OGJ Newsletter

Market MovementOECD oil stocks remain lowThe International Energy Agency in Paris warned in a Sept. 10 report that industry oil inventories among members of the Organization for Economic Cooperation and Development, including the US, "are heading into the winter heating season at the bottom of their 5-year range. Despite a recent build in product stocks, crude oil stocks, especially those in OECD North America, are low."IEA officials concluded, "We may need to rethink what were previously considered to be minimum operating levels, if industry is comfortable with lower stocks."They noted, "A number of structural factors have contributed to lower inventory holdings. New information technolo...

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