Australia,Greece Below Oil Stocks Requirement In May-IEA Data

Australia,Greece Below Oil Stocks Requirement In May-IEA Data
dj
Πεμ, 12 Αυγούστου 2010 - 15:55
Australia and Greece in May fell short of the International Energy Agency's requirement for members to have oil stocks equivalent to at least 90 days of net imports, the latest data on the IEA's website shows.
Australia and Greece in May fell short of the International Energy Agency's requirement for members to have oil stocks equivalent to at least 90 days of net imports, the latest data on the IEA's website shows.

The minimum requirement is a key rule designed to ensure IEA member nations, all but three of which are net importers of oil, have enough stocks to offset major disturbances in supply.

The closing oil stock levels for May show
Australia with 86 days' worth of stocks, and Greece at 88 days.

The data also show that
Australia repeatedly has fallen short of late, with a closing stock level of 87 days for March, 88 days in January and 84 days in December.

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