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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Bazmataz who wrote (18878)4/13/1998 1:30:00 PM
From: Czechsinthemail  Read Replies (2) of 95453
 
IEA reports mysterious drop in February inventories

Preliminary data showed commercial inventories of crude and petroleum products held in the Organisation for Economic Cooperation and Development (OECD) fell by one million bpd in February, reversing a build of that size in January.

They agency said one explanation was that it may have overestimated world oil supply in the early part of 1998, but even given future revisions to supply data there would remain a large inventory overhang.
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