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

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Hira Shahnawaz Akhtar
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Updated on

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 The first breach of this average was seen in May 1998 when crude oil inventories jumped 14 percent in one month to touch 1,008 mmbbls. December 1999 saw the…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.