Oil imports to OECD countries fell until March

Imports of crude oil from OPEC countries to OECD nations declined during the first quarter of the year.

There were shipments coming only from Iran – which increased by 30% – Iraq and Kuwait, which accounted for a 10% rise, new figures from the International Energy Agency (IEA) revealed.
Production of crude oil, natural gas liquids (NGL) and refinery feedstocks in OECD countries dropped in March compared to a year earlier.

It fell by 0.5% as production declined in Mexico by 5.3% and in the US by 1.6%.
Refinery gross output rose by 0.8% during the same period.
Its net deliveries were slightly lower – 0.5% – compared to March last year.

The report added: “Stocks of crude oil, NGL and refinery feedstocks in total OECD grew at a much slower pace in the first quarter of 2016 compared to a year earlier. This trend held steady in March 2016.”