Oil Stocks
OECD commercial oil stocks rose by 11.7 mb in May, broadly in line with the five-year average.
Crude stocks showed a surplus of 13 mb, while product inventories indicated a deficit of 17.3 mb.
In terms of days of forward cover, OECD commercial stocks stood at 58.9 days.
Preliminary data for June shows that US total commercial oil stocks rose by 14.2 mb for a surplus of 48.2 mb with the five-year average.
US crude and product stocks were at 33.8 mb and 14.4 mb, respectively, both above the five-year average.
~ Issued 10 July 2013
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