OECD Commercial Oil Inventories Were 34Mln Barrels Above 2015-2019 Average In April - OPEC

Umer Jamshaid Published June 10, 2021 | 05:20 PM

OECD Commercial Oil Inventories Were 34Mln Barrels Above 2015-2019 Average in April - OPEC

MOSCOW (UrduPoint News / Sputnik - 10th June, 2021) Commercial oil reserves in the Organisation for Economic Co-operation and Development (OECD) dropped below the five-year average in April but still remained 34 million barrels above the 2015-2019 index, the Organization of the Petroleum Exporting Countries (OPEC) said.

"Preliminary April data sees total OECD commercial oil stocks down by 6.4 mb m-o-m. At 2,962 mb, they were 159.9 mb lower than the same time one year ago, 25.2 mb lower than the latest five-year average, but around 34 mb above the 2015-2019 average," OPEC said in the fresh monthly oil market report.

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