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Markets1h 46m ago

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.

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 · 1h 46m 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
  1. Currently Reading1h 46m ago
    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.
  2. Markets1h 46m ago
    Oil inventories held by OECD member countries fell in May to their lowest level since 1990.
    Open article

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