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Appendix

OPEC Monthly Oil Market Report – September 2017

93

Table 11 - 3: OECD oil stocks and oil on water at the end of period

2014 2015 2016 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17

Closing stock levels, mb

OECD onland commercial

2,706 2,989 2,985 2,880 2,957 2,989 3,017 3,056 3,063 2,985 3,030 3,021

Americas

1,414 1,561 1,600 1,508 1,542 1,561 1,589 1,609 1,617 1,600 1,608 1,606

Europe

887 993 971

943 970 993 1,007 1,010 996 971 1,019 998

Asia Pacific

405 435 415

430 445 435 421 438 450 415 404 417

OECD SPR

1,582 1,588 1,600 1,587 1,581 1,588 1,595 1,592 1,596 1,600 1,600 1,587

Americas

693 697 697

696 697 697 697 697 697 697 694 681

Europe

472 475 481

473 469 475 478 474 477 481 484 484

Asia Pacific

417 416 421

418 415 416 419 421 421 421 422 423

OECD total

4,288 4,577 4,585 4,467 4,538 4,577 4,612 4,649 4,659 4,585 4,629 4,608

Oil-on-water

924 1,017 1,102

916 924 1,017 1,055 1,094 1,068 1,102 1,043 1,057

Days of forward consumption in OECD, days

OECD onland commercial

58 64 63

61 63 64 65 64 64 63 65 63

Americas

58 64 65

60 62 64 63 64 65 65 64 63

Europe

65 72 70

65 68 72 72 70 70 70 73 69

Asia Pacific

47 51 48

55 53 51 55 56 54 48 53 54

OECD SPR

34 34 34

34 33 34 34 33 34 34 34 33

Americas

28 28 28

28 28 28 28 28 28 28 27 27

Europe

35 34 35

33 33 34 34 33 34 35 34 33

Asia Pacific

49 48 49

53 50 48 55 54 51 49 55 55

OECD total

92 98 97

95 96 98 99 98 98 97 99 96

Sources: Argus Media, Euroilstock, IEA, JODI, METI, OPEC Secretariat and US Energy Information Administration.