OECD crude inventories hit record 3 billion barrels � IEA

Oil

OCED commercial crude oil inventories rose counter-seasonally by 13.8M bbls to a record high of near 3Bn bbls by end-September the International Energy Agency (IEA) notes in their latest monthly oil market report. The pace of the global stockbuild slowed during 3Q15 to 1.6M b/d, compared with 2.3M b/d in 2Q15, but was still significantly above the historical trend.