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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 West Asia conflict.
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West Asia
Who
IEA
What
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 West Asia conflict.
When
Wed, 17 Jun 2026 09:02:09 GMT · 4h 22m ago
Where
West Asia ·
Why
Governments drew down stocks to offset the blockage of Gulf crude shipments during the West Asia conflict and to ease the burden from soaring oil prices due to Tehran’s effective closure of the Strait of Hormuz.
The Frontline Impact
How this affects you
OECD oil stocks have fallen to their lowest level since 1990 due to drawdowns spurred by conflicts and the closure of the Strait of Hormuz, indicating a significant reduction in global oil market buffers.
Story chain
2 events in this thread- Currently Reading4h 22m agoOil 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 West Asia conflict.
- Markets4h 22m agoOil inventories held by OECD member countries fell in May to their lowest level since 1990.Open article