The International Energy Agency, energy watchdog, is reported to have warned about falling crude inventories. According to the article, OECD countries have been reducing their inventories at a rate of 1.26 million barrels per day, compared to historical norms of 100,000 to 400,000 barrels per day.
Energy Watchdog Says Nations Need More OPEC Crude
The International Energy Agency, warning that global oil and fuel inventories were falling unusually fast this year and expressing concern about meeting demand in coming months, said more crude oil was needed from the Organization of Petroleum Exporting Countries.
The 12-member OPEC will hold output-policy talks tomorrow in Vienna, with Angola attending as a member for the first time.
The agency's widely anticipated monthly assessment of the global oil balance said crude stockpiles held by the Organization for Economic Cooperation and Development group of industrialized nations were falling at ... The Wall Street Journal
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