Global oil stocks have built to their highest level in 18 months, the IEA said today, which could provide a buffer later in the year when supplies will be “nowhere close” to matching demand, says an article published on Argusmedia.
Global inventoriesThe IEA’s monthly Oil Market Report (OMR) said global inventories rose by 52.9mn bl in January to 7.8bn bl, the highest since September 2021.
There were big builds in OECD countries, driven by reduced demand and by European...