IEA Sees Oil Inventory Reaching This Key OPEC Target 'Very Soon'

Oil stockpiles in developed countries could hit or fall below their five-year average "very soon," the International Energy Agency said Wednesday, nearing a key target for OPEC.

XAutoplay: On | OffThe five-year average is a key benchmark for OPEC, as it considers extending its production deal with non-OPEC members like Russia.

In May the two sides agreed to extend the cuts for nine  more months and officials are starting to talk about extending it further. But if inventories drop below...

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