The commercial oil stocks in the Organization for Economic Co-operation and Development (OECD) increased by 22.5 million barrels in October month-on-month, and were below the 5-year average by 167 million barrels, according to OPEC's December report published on Tuesday, APA reports citing Urdupoint.
"Preliminary October data sees total OECD commercial oil stocks up m-o-m by 22.5 mb. At 2,748 mb, they were 15 mb less than the same time one year ago, 167 mb lower than the latest five-year average and 197 mb below the 2015-2019 average," the report said.
According to the report, OECD crude stocks stood at 1,335 mb and products stocks at 1,413 in October.
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