Oil prices pulled back on Friday, weighed down by a glut in oil products that is stoking market concerns that rebalancing will take longer than hoped. The global benchmark, Brent, shed 0.5% to $45.98 a barrel. Its U.S. counterpart, West Texas Intermediate, fell 0.9% to $44.37 a barrel. Oil investors are focusing on an oversupply in refined products , particularly in Asia , after data released this week highlighted that global gasoline inventories continue to grow. In China, the world’s second biggest oil consumer, exports of gasoline hit a near-record high of 1.1 million tons in June , more than double the level of last year, as refiners are eager to push their barrels out to export markets to reduce their bloated inventories. “Admittedly, China’s exports of petroleum products are still just a fraction of its crude oil imports. But exports from China will still add to the global […]