Ulrich Mueller/Shutterstock Save for later Print Download Share February crude stocks in the OECD were seasonally up, and refined product stocks were seasonally down. For the economic organization as a whole, they were pretty close to last year鈥檚 volumes. The limited change in overall volumes signals a regular inventory development at the start of the year. The same is true for days of forward demand coverage, which came in at 60.8 days this February compared to 61.1 days a year ago. The difference is 20 million barrels for crude and products combined, or 0.7% of the total. The four-year average for OECD inventories, ignoring 2020 and 2021, which were impacted the most by the pandemic, shows outright tank levels back to familiar levels. Crude stocks are 17 million short; middle distillate levels are 14 million bbl over the average.
