MOSCOW (Pakistan Point News / Sputnik - 14th September, 2022) The commercial oil and oil products stocks in the Organization for Economic Co-operation and Development (OECD) rose by 43.1 million barrels in July month-on-month, while global stocks fell by 25.6 million barrels, the International Energy Agency (IEA) said in its monthly report on Wednesday.
"Global observed inventories fell by 25.6 mb in July on a drawdown in crude stocks in China and oil on the water as well as from IEA government stocks. OECD industry stocks rose by 43.1 mb to 2 705 mb, narrowing the deficit versus the five-year average to 274.9 mb," the report read.
