The commercial oil stocks in the member states of the Organization for Economic Cooperation and Development (OECD) grew in March by 68.2 million barrels and stood 46.7 million barrels above the five-year-average, the International Energy Agency (IEA) said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 14th May, 2020) The commercial oil stocks in the member states of the Organization for Economic Cooperation and Development (OECD) grew in March by 68.2 million barrels and stood 46.7 million barrels above the five-year-average, the International Energy Agency (IEA) said on Thursday.
"OECD data for March show that industry stocks rose by 68.2 mb (2.2 mb/d) to 2 961 mb. Total OECD stocks stood 46.7 mb above the five-year average and, due to the weak outlook, now provide an incredible 90 days of forward demand coverage," the IEA said in its new oil market report.
