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NEW YORK, June 9 (Reuters) – Oil stockpiles in the world’s largest economies were headed toward the lowest levels since at least 2003 as top consuming nations tapped inventories at a record pace to plug the loss of over 11 million barrels a day of Middle Eastern output due to the Iran war, the U.S. Energy Information Administration said on Tuesday.
Total oil inventories in the members of the Organization for Economic Cooperation and Development will fall to just under 2.3 billion barrels by December, the EIA said, based on its current assumption that marine traffic through the Strait of Hormuz is unlikely to return to pre-conflict levels until early 2027.
Reporting by Shariq Khan and Scott DiSavino in New York; Editing by Mark Porter
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