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Market MovementIEA reports growth of OECD oil stocksIndustry oil stocks in countries of the Organization for Economic Cooperation and Development grew 1 million b/d in July, according to the latest report from the International Energy Agency. As these stocks moved to 79.5 million bbl below 2002 levels, forward demand cover was little changed at 53 days, 2 days below last year's level. OECD crude inventories rose despite a fall in such North American supplies, but distillate fuel stocks across the OECD continued to build seasonally during July.OECD industry crude stocks rose 240,000 b/d in July, recovering from a second quarter decline of 120,000 b/d. Recent figures show that US crude ...

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