OIL INVENTORIES DOWN
PLATTS - OECD 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.
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.