Commercial stocks of oil and petroleum products in the world increased in May 2022 compared to April 2022 by 5 million barrels, and in OECD countries by 15.2 million barrels.
This is stated in the report of the International Energy Agency, published today, Wednesday, and the report says that the volume of reserves of black gold is still below the average for five years, despite the growth.
The report says: “Global oil inventories rose by 5 million barrels in May 2022, while industrial stocks of the Organization for Economic Cooperation and Development rose by 15.2 million barrels to 2,691 million barrels, and the volume of reserves is still less than in 2017-2017. On average for 2021, taking into account the liberalization of state reserves in the amount of 32.1 million barrels.
The International Energy Agency indicates that stocks at the Organization for Economic Cooperation and Development rose by 22 million barrels in June 2022, according to preliminary data.
Source: RIA Novosti