26.1 C
Delhi
Thursday, February 29, 2024

Total OECD oil stocks in Dec hit record low first time since 2004 – IEA

Date:

Share post:

Donate-GC-Razorpay

Moscow: The total oil and and petroleum products reserves in the Organization for Economic Co-operation and Development (OECD) countries, which include commercial and state reserves, fell to the lowest since April 2004, amounting to 3.977 billion barrels in December, the International Energy Agency (IEA) said in a report on Wednesday.

“Total OECD inventories, including government stocks, fell to 3,977 mb, their lowest since April 2004,” the report said.

The IEA added that OECD commercial reserves decreased by 18.1 million barrels in December, to 2.767 billion barrels.

“OECD industry stocks fell by 18.1 mb in December to 2 767 mb, 95.7 mb below the five-year average,” the report read.

Related articles

Matter of using Maharashtra CM’s Forged signature is serious: Pawar

Mumbai: Deputy Chief Minister Ajit Pawar on Thursday assured the Legislative Assembly that strict action will be taken...

Police attach ‘illegal property’ of drug peddler in J&K’s Baramulla

Srinagar: Police on Thursday attached the “illegal property” of a drug peddler in Jammu and Kashmir’s Baramulla district. Police...

Centre-States food secretaries meet on procurement of wheat, paddy

New Delhi: The Government has held discussions with the State Food Secretaries and decided to procure up to...

Airtel strengthens its retail footprint in Mysuru, Mangaluru

Bengaluru: Bharti Airtel, one of India's leading telecommunications service providers on Thursday announced that it has launched four...