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Oil stocks of OECD countries fall to lowest level since 1990: IEA

World News

17-06-2026 | 04:27

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Oil stocks of OECD countries fall to lowest level since 1990: IEA

Oil inventories held by OECD member countries fell in May to their lowest level since 1990 as governments drew down stocks to offset the blockage of Gulf crude shipments during the Mideast war, the International Energy Agency said Wednesday.

The drawdown since the start of the conflict has reached 163 million barrels in the Organisation for Economic Cooperation and Development club of wealthy countries, the IEA said in its monthly report.

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