OECD Commercial Oil Stocks Were 1.7Mln Barrels Above 5-Year Average In March - IEA

Muhammad Irfan Published May 12, 2021 | 01:33 PM

The Organisation for Economic Co-operation and Development (OECD) commercial oil stocks in March were 1.7 million barrels above the five-year average, as they decreased by 25 million barrels month-on-month, the International Energy Agency (IEA) said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 12th May, 2021) The Organisation for Economic Co-operation and Development (OECD) commercial oil stocks in March were 1.7 million barrels above the five-year average, as they decreased by 25 million barrels month-on-month, the International Energy Agency (IEA) said on Wednesday.

"OECD industry stocks fell by 25 mb to 2 951 mb in March, reducing the overhang versus the 2016-2020 average to a marginal 1.7 mb," IEA said in its fresh oil market report.