A worker prepares to transport oil pipelines to be laid for the Pengerang Gas Pipeline Project at an area 40km (24 miles) away from the Pengerang Integrated Petroleum Complex in Pengerang, Johor, February 4, 2015. From sharp cuts to Chinese oil production to falling inventories of refined fuel products, signs are mounting that Asia’s oil markets are slowly returning to balance. Global inventories of refined products – made up from light and middle distillates like gasoline and diesel, as well as residual fuel such as fuel oil – have all fallen since the beginning of the month. They are now at or below levels seen this time last year, data in Thomson Reuters Datastream shows. The drawdowns come after China, Asia’s biggest oil consumer and a top-5 global producer, this week reported a 9.8 percent fall in output for September, amounting to one of the deepest cuts on record. […]