finance
Global Oil Stocks Declined 250 Million Barrels in March and April
Observed global oil inventories fell by 250 million barrels over March and April. The decline averaged 4 million barrels per day and coincided with supply losses tied to the near-closure of the Strait of Hormuz.
May 18, 9:15 AM·1m read1 source
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Observed global oil inventories, including oil on water, declined by 250 million barrels over March and April. The drop averaged 4 million barrels per day.
The reduction marks a record pace of stock depletion.
Supply losses linked to the near-closure of the Strait of Hormuz continued to mount during the same period. Global inventories include both onshore storage and oil held on tankers. The combined figures show the scale of the drawdown across two consecutive months.
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