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Current location:HOME>> News>> Industry News>> Global Oil Inventories Build Slowing Down
Global Oil Inventories Build Slowing Down
AUTHOR:admin PUBLISHED:2016-10-19 CLICK:正在读取

According to Bernstein Research's own calculation, global oil inventories of crude oil is tightening, reflected by the increase of 17 million barrels a day to 5.62 billion barrels in the third quarter of this year which was the smallest build since fourth quarter of 2014. This confirms that "inventory builds are slowing as the market comes back into balance," the firm says.

In developed countries, oil inventories slipped in August, the first decrease since April. In developing countries, oil inventories were largely flat in August and a decrease is expected for September as a result of sharp decrease in floating storage inventories. "We expect global oil inventories to post a material 33 million decline in September which would be one of the largest inventory drop in 2016," it adds.

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