• Russia energy minister Novak: A new baseline timeframe for measuring stockpiles is possible

Market news

2 July 2019

Russia energy minister Novak: A new baseline timeframe for measuring stockpiles is possible

  • Says OPEC+ supports using 2010-2014 period for oil reserve metrics
  • OPEC+ is discussing several metrics to measure inventories
  • 2010-2014 inventory metric should consider gains in demand

Downgrades before the market open
Saudi oil minister Al-Fali says OPEC+ still working on which inventory metric to be used in the charter
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