Industry Stocks Of Oil In OECD In July Below 5-Year Average By 185.7Mln Barrels - IEA

The Organization for Economic Co-operation and Development (OECD)'s commercial oil stocks decreased by 34.4 million barrels month-on-month in June and were 185.7 million barrels below the five-year average, the International Energy Agency (IEA) said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 14th September, 2021) The Organization for Economic Co-operation and Development (OECD)'s commercial oil stocks decreased by 34.4 million barrels month-on-month in June and were 185.7 million barrels below the five-year average, the International Energy Agency (IEA) said on Tuesday.

"OECD total industry stocks drew by 34.4 mb in July and stood at 2 850 mb, 185.7 mb lower than the 2016-2020 average and 120.3 mb below the pre-Covid five-year average. Preliminary data for the US, Europe and Japan show industry stocks decreased by a further 31.1 mb while crude oil held in short-term floating storage decreased by 20.3 mb to 101.7 mb in August," the IEA said in its report.