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Volume
44
Issue
3
25
of oil products. commercial oil inventories in Pacific decreased by 15 million barrels
to reach 412 million barrels, of which 190 million barrels of crude and 222 million
barrels of oil products.
And Commercial oil Inventories in Europe decreased by 14 million barrels to
reach 939 million barrels, of which 334 million barrels of crude and 605 million
barrels of oil products.
In the rest of the world, commercial oil inventories decreased by 20 million
barrels to reach 2682 million barrels, and the Inventories at sea decreased by 7
million barrels to reach 1172 million barrels.
As a result, Total Commercial oil inventories in December 2017 decreased
by 76 million barrels to reach 5532 million barrels – a level that is 134 million barrels
lower than a year ago.
Strategic inventories in OECD-34, South Africa and China increased by 2 million
barrels to reach 1847 million barrels – a level that is 34 million barrels lower than
a year ago
Total world inventories, at the end of December 2017 were at 8551 million
barrels, representing a decrease of 82 million barrels comparing with the previous
month, and a decrease of 247 million barrels comparing with the same month a
year ago.
Table (9)
in the annex and figure (8) show the changes in global inventories
prevailing at the end of December 2017.
Figure - 8
Changes in Global Inventories at the End of December 2017
(Million bbl)