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Appendix

86

OPEC Monthly Oil Market Report – November 2017

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

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

Closing stock levels, mb

OECD onland commercial

2,706 2,989 2,984 2,957 2,989 3,020 3,059 3,067 2,984 3,030 3,015 2,985

Americas

1,414 1,561 1,598 1,542 1,561 1,592 1,611 1,621 1,598 1,608 1,595 1,569

Europe

887 993 971

970 993 1,007 1,010 996 971 1,019 996 978

Asia Pacific

405 435 414

445 435 421 438 450 414 404 424 438

OECD SPR

1,582 1,588 1,600 1,581 1,588 1,595 1,592 1,596 1,600 1,600 1,588 1,579

Americas

693 697 697

697 697 697 697 697 697 694 681 675

Europe

472 475 481

469 475 478 474 477 481 484 484 480

Asia Pacific

417 416 421

415 416 419 421 421 421 422 423 423

OECD total

4,288 4,577 4,584 4,538 4,577 4,615 4,651 4,663 4,584 4,629 4,603 4,563

Oil-on-water

924 1,017 1,102

924 1,017 1,055 1,094 1,068 1,102 1,043 1,052 997

Days of forward consumption in OECD, days

OECD onland commercial

58 56 63

62 64 64 64 64 63 64 63 62

Americas

55 53 65

62 64 64 64 65 65 64 63 62

Europe

67 65 70

68 72 71 69 70 70 72 68 68

Asia Pacific

49 49 48

53 51 55 56 54 48 52 54 53

OECD SPR

34 35 34

33 34 34 33 34 34 34 33 33

Americas

29 29 28

28 28 28 28 28 28 28 27 27

Europe

32 35 35

33 34 34 33 33 35 34 33 33

Asia Pacific

50 52 49

50 48 54 54 51 49 55 54 51

OECD total

91 91 97

96 97 99 98 98 97 98 96 95

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