The Organisation for Economic Co-operation and Development (OECD)'s commercial oil stocks increased by 0.5 million barrels month-on-month in April but were still 61.3 million barrels below five-year average, the International Energy Agency (IEA) said on Friday
MOSCOW (Pakistan Point News / Sputnik - 11th June, 2021) The Organisation for Economic Co-operation and Development (OECD)'s commercial oil stocks increased by 0.5 million barrels month-on-month in April but were still 61.3 million barrels below five-year average, the International Energy Agency (IEA) said on Friday.
"OECD total industry stocks held relatively steady in April, but it was the first time in more than a year to fall below the pre-Covid 2015-19 average, 1.6 mb, and were 61.3 mb lower than the 2016-20 average. Total oil inventories increased by a modest 0.5 mb and stood at 2 926 mb by end-April," IEA said in its monthly oil market reports.
