Commercial stocks of oil and oil products in the member states of the Organisation for Economic Co-operation and Development (OECD) increased by 31.8 million barrels month-on-month in June, exceeding the 5-year average by 66.9 million barrels, the International Energy Agency (IEA) said on Friday in its monthly report
MOSCOW (Pakistan Point News / Sputnik - 09th August, 2019) Commercial stocks of oil and oil products in the member states of the Organisation for Economic Co-operation and Development (OECD) increased by 31.8 million barrels month-on-month in June, exceeding the 5-year average by 66.9 million barrels, the International Energy Agency (IEA) said on Friday in its monthly report.
"OECD total industry stocks gained by a significant 31.8 mb month-on-month (m-o-m) in June to 2 961 mb, the third straight monthly increase. The gain was counter-seasonal; usually there is a reduction of 11.2 mb. A key factor was a large increase in stocks of oil products in the OECD Americas region. Total stocks were 66.9 mb above the five-year average at end-month," the IEA said.
