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2018-05-28 11:20:00

OIL INVENTORIES DOWN

OIL INVENTORIES DOWN

PLATTSOECD crude oil inventories have fallen below the five-year average -- OPEC's key measure for its production cut agreement -- for the first time since the producer group began cutting back output, a senior OPEC source told S&P Global Platts Sunday.

Commercial oil inventories were 20 million barrels below the five-year average, the source said, as officials from OPEC kingpin Saudi Arabia and key non-OPEC producer, Russia indicated Friday they would begin increasing output in the second half of the year.

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Tags: OIL, INVENTORIES, OPEC, STOCKS
Chronicle:
OIL INVENTORIES DOWN
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2019, May, 23, 12:35:00
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OIL INVENTORIES DOWN
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