Inventories: Commercial Fuel Stocks Grow for Sixth Straight Month

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Observed commercial inventories in the OECD and non-OECD grew for the sixth straight month in January, mainly thanks to rising crude oil stocks. Commercial tanks have added 92 million barrels since August 2022, of which 80 million bbl was crude oil. Virtually all the growth was in the OECD, while non-OECD tanks added just 8 million bbl. Including oil at sea and strategic petroleum reserves, global inventories grew by 37 million bbl in the period since August, of which 19 million bbl was in January 2023.

Oil Inventories, Crude Oil, Oil Products, Oil Tankers
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