Global oil inventories rise; yet still below 3 bln barrels

11/05/2021 Argaam

Commercial oil inventories of the Organization of the Petroleum Exporting Countries (OPEC) members rose by 10 million barrels to reach 2.987 billion barrels in March, above the average of the last five years by 37.8 million.

 

According to its monthly oil market report issued today, May 11, OPEC said the US commercial oil inventories fell by 12.7 million barrels month-on-month and 117.6 million barrels year-on-year to reach 1.280 billion barrels in April, which are 27 million barrels below the average of last five years.

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