Based on published data; In October 2023, global oil reserves fell for the fourth consecutive month and reached below the average of the last 5 years. The oil reserves of the countries of the Organization for Economic Cooperation and Development (OECD) decreased by almost 12.8 million barrels and reached the level of 2.818 billion barrels.
Publish dateTuesday 19 December 2023 - 10:12
Story Code : 282463
Afghan Voice Agency (AVA): According to international media reports, global oil reserves are 66 million barrels less than the average of the last five years.
Global oil reserves fell by 15.6 million barrels last September, for the third consecutive month, after a 3-month increase from April to June 2023.
US commercial oil inventories increased by 6.8 million barrels to 1.269 billion barrels in November 2023. That is, U.S. oil inventories were up about 3.5% or 42.8 million barrels last month compared to November 2022 data.
According to OPEC's monthly report, which monitors global and US reserves, US reserves are still 0.7% or equivalent to 8.7 million barrels less than the average of the last 5 years.
Also, the production of OPEC member countries decreased by 57,000 barrels per day in November 2023 and reached 27,837 million barrels per day.
Meanwhile, after the Al-Aqsa storm operation and also the attacks of the Houthi movement in the Bab al-Mandab strait, the price of oil has always fluctuated in the shadow of these events in recent months and days.
Global oil reserves fell by 15.6 million barrels last September, for the third consecutive month, after a 3-month increase from April to June 2023.
US commercial oil inventories increased by 6.8 million barrels to 1.269 billion barrels in November 2023. That is, U.S. oil inventories were up about 3.5% or 42.8 million barrels last month compared to November 2022 data.
According to OPEC's monthly report, which monitors global and US reserves, US reserves are still 0.7% or equivalent to 8.7 million barrels less than the average of the last 5 years.
Also, the production of OPEC member countries decreased by 57,000 barrels per day in November 2023 and reached 27,837 million barrels per day.
Meanwhile, after the Al-Aqsa storm operation and also the attacks of the Houthi movement in the Bab al-Mandab strait, the price of oil has always fluctuated in the shadow of these events in recent months and days.
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