OECD Commercial Oil Stocks Below 5-Year Average By 247Mln Barrels In November- OPEC Report

Mohammad Ali (@ChaudhryMAli88) Published January 18, 2022 | 06:47 PM

The commercial oil storks in the Organization for Economic Co-operation and Development (OECD) fell by 16 million barrels in November month-on-month, and were below the 5-year average by 247 million barrels, according to a fresh report by OPEC published on Tuesday

MOSCOW (UrduPoint News / Sputnik - 18th January, 2022) The commercial oil storks in the Organization for Economic Co-operation and Development (OECD) fell by 16 million barrels in November month-on-month, and were below the 5-year average by 247 million barrels, according to a fresh report by OPEC published on Tuesday.

"Preliminary November data sees total OECD commercial oil stocks down by 16.0 mb (million barrels) m-o-m. At 2,721 mb, they were 389 mb lower than the same month in 2020, 247 mb lower than the latest five-year average and 221 mb below the 2015-2019 average," the report read.