Preliminary May 2024 data shows total OECD commercial oil stocks up by 24.7 mb, m-o-m. At 2,813 mb, they were 1.1 mb lower than the same time one year ago, 101.6 mb less than the latest five-year average, and 142.4 mb below the 2015–2019 average. Within the components, crude stocks fell by 5.4 mb, while product stocks rose by 30.1 mb, m-o-m.
OECD commercial crude stocks stood at 1,366 mb. This was 27.9 mb lower than the same time a year ago, 61.0 mb below the latest five-year average, and 119.6 mb less than the 2015-2019 average.
OECD total product stocks stood at 1,447 mb. This is 26.8 mb higher than the same time a year ago, but 40.6 mb lower than the latest five-year average, and 22.8 mb below the 2015–2019 average.
In terms of days of forward cover, OECD commercial stocks increased in May by 0.3 days, m-o-m, to stand at 60.6 days. This is 0.3 days less than the level registered in May 2023, 4.0 days lower than the latest five-year average, and 1.4 days less than the 2015–2019 average.
Preliminary data for June 2024 shows that total US commercial oil stocks rose by 6.4 mb, m-o-m, to stand at 1,283 mb. This is 18.7 mb, or 1.5%, higher than the same month in 2023, but 14.5 mb, or 1.1%, below the latest five-year average. Crude stocks fell by 7.4 mb, while product stocks rose by 13.8 mb, m-o-m.
| Â | Â | Â | Â Change | ||
| Â OECD stocks | May 23 | Mar 24 | Apr 24 | May 24 | May 24/Apr 24 |
| Crude oil | 1,393 | 1,350 | 1,371 | 1,366 | -5.4 |
| Products | 1,421 | 1,406 | 1,417 | 1,447 | 30.1 |
| Total | 2,814 | 2,756 | 2,788 | 2,813 | 24.7 |
| Days of forward cover | 60.9 | 60.1 | 60.3 | 60.6 | 0.3 |
| Â | Â | Â | Â Change | ||
| Â US stocks | Jun 23 | Apr 24 | May 24 | Jun 24 | Jun 24/May 24 |
| Crude oil | 454.7 | 463.8 | 455.9 | 448.5 | -7.4 |
| Gasoline | 223.2 | 233.3 | 230.9 | 231.7 | 0.7 |
| Distillate fuel | 112.6 | 117.8 | 122.5 | 119.7 | -2.8 |
| Residual fuel oil | 30.4 | 27.9 | 28.5 | 28.2 | -0.3 |
| Jet fuel | 42.7 | 41.6 | 43.1 | 43.3 | 0.2 |
| Total products | 809.7 | 794.2 | 820.7 | 834.5 | 13.8 |
| Total | 1,264.4 | 1,258.1 | 1,276.6 | 1,283.1 | 6.4 |
| SPR | 347.2 | 366.9 | 370.2 | 372.6 | 2.4 |
| Â | Â | Â | Â Change | ||
| Â Japan's stocks | May 23 | Mar 24 | Apr 24 | May 24 | May 24/Apr 24 |
| Crude oil | 74.2 | 62.6 | 67.7 | 61.5 | -6.2 |
| Gasoline | 10.6 | 9.8 | 10.5 | 11.7 | 1.2 |
| Naphtha | 8.3 | 9.0 | 9.2 | 9.3 | 0.1 |
| Middle distillates | 23.2 | 20.3 | 21.7 | 25.3 | 3.6 |
| Residual fuel oil | 12.0 | 11.0 | 12.8 | 12.6 | -0.1 |
| Total products | 54.1 | 50.1 | 54.2 | 58.9 | 4.7 |
| Total | 128.3 | 112.7 | 121.9 | 120.5 | -1.4 |
| Â | Â | Â | Â Change | ||
| Â EU stocks | May 23 | Mar 24 | Apr 24 | May 24 | May 24/Apr 24 |
| Crude oil | 442.4 | 419.9 | 421.8 | 430.5 | 8.7 |
| Gasoline | 102.8 | 110.9 | 111.6 | 110.6 | -1.0 |
| Naphtha | 27.5 | 28.3 | 25.8 | 26.8 | 1.1 |
| Middle distillates | 394.6 | 396.8 | 393.2 | 391.9 | -1.3 |
| Fuel oils | 63.4 | 58.6 | 60.0 | 59.5 | -0.5 |
| Total products | 588.3 | 594.6 | 590.5 | 588.9 | -1.7 |
| Total | 1,030.7 | 1,014.5 | 1,012.3 | 1,019.3 | 7.0 |