MOSCOW (Pakistan Point News / Sputnik - 14th December, 2022) The commercial oil storks in the Organization for Economic Co-operation and Development (OECD) increased by 17.3 million barrels in October month-on-month to 2.745 million barrels, which is by 150.2 million barrels lower than the five-year average, according to a fresh report by the International Energy Agency (IEA) published on Wednesday.
"Global observed inventories fell by 23.2 mb in October as product stocks fell for the first time since March and crude oil saw a smaller build. OECD industry stocks increased by 17.3 mb, to 2 765 mb," the report said.
The total stocks were below their five-year average by 150.2 million barrels, the IEA report added.
