Global crude inventories that ballooned during the pandemic have shrunk to the lowest level in 20 months as an economic rebound in top consumers China and the U.S. drive a robust recovery in fuel demand. About 2.97 billion barrels of crude oil were stored onshore globally as of Sept. 5, the least since January 2020 before Covid-19 eviscerated demand, according to data analytics firm Kayrros. U.S. stockpiles are at a two-year low, those in China are the smallest since September 2020, while inventories at the African hub of Saldanha Bay are at the lowest since April last year. Oil consumption in the world’s top guzzlers has surpassed pre-pandemic levels and underpinned a […]