BLOOMBERG.COM
Record inventories accumulated since 2014 will dwindle at a rate of about 760,000 barrels a day in the first half of next year if OPEC and 11 other oil producers deliver the supply cuts pledged on Dec. 10, according to Bloomberg calculations using data from the International Energy Agency. Over the six months covered by the deal, that would remove 46 percent of the 300 million-barrel stockpile surplus OPEC aims to clear.
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Record inventories accumulated since 2014 will dwindle at a rate of about 760,000 barrels a day in the first half of next year if OPEC and 11 other oil producers deliver the supply cuts pledged on Dec. 10, according to Bloomberg calculations using data from the International Energy Agency. Over the six months covered by the deal, that would remove 46 percent of the 300 million-barrel stockpile surplus OPEC aims to clear.
Read more>