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Record petrol output eats up biggest US oil glut in 85 years

Refiners are enjoying the best margins in two years and they will increase production to meet demand

Booming crude production expanded inventories this year by 86 million barrels to 471 million, the highest level since 1930.


REFINERS are poised to make petrol at a record pace this year, keeping the biggest US crude glut in more than 80 years from overflowing storage.

They're enjoying the best margins in two years as they finish seasonal maintenance of their plants before the summer driving