OECD Commercial Oil Stocks In July 36Mln Barrels Above 5-Year Average - OPEC Report

Sumaira FH Published September 11, 2019 | 03:56 PM

Commercial stocks of the Organisation for Economic Co-operation and Development (OECD) were 36 million barrels higher than five-year average in July, the Organization of the Petroleum Exporting Countries (OPEC) said in a September report

MOSCOW (UrduPoint News / Sputnik - 11th September, 2019) Commercial stocks of the Organisation for Economic Co-operation and Development (OECD) were 36 million barrels higher than five-year average in July, the Organization of the Petroleum Exporting Countries (OPEC) said in a September report.

"Preliminary data for July showed that total OECD commercial oil stocks fell by 10.5 mb m-o-m to stand at 2,944 mb. This was 108 mb higher than the same period a year ago, and 36 mb above the latest five-year average," the report read.