The commercial oil stocks in the Organization for Economic Co-operation and Development (OECD) increased by 2.7 million barrels in November month-on-month, and were below the 5-year average by 137 million barrels, according to OPEC's December report published on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 17th January, 2023) The commercial oil stocks in the Organization for Economic Co-operation and Development (OECD) increased by 2.7 million barrels in November month-on-month, and were below the 5-year average by 137 million barrels, according to OPEC's December report published on Tuesday.
"Preliminary November data sees total OECD commercial oil stocks up m-o-m by 2.7 mb. At 2,768 mb, they were 26 mb higher than the same time one year ago, 137 mb lower than the latest five-year average and 173 mb below the 2015-2019 average," the report said.
According to the report, OECD crude stocks stood at 1,343 mb and products stocks at 1,435 in November.
