OECD Oil Inventories Drop Below 1B Barrels as Mideast Unrest Spreads

OECD’s crude oil inventories dropped 2.07 percent in June from the previous month and 2.36 percent on a YoY basis. OECD industrial crude oil stocks were listed at 989.6 million barrels (mmbbls) at the end of June 2013. This was still above the historical average of 925 mmbbls over the past twenty years. However, inventories dropped below 1 billion barrels for the first time since March 2013.

OECD crude oil inventories . . .

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