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European oil stocks fell more than 6% in July
European oil stocks fell more than 6% in July
Data issued by Euro Oil Stock revealed that stocks of crude and oil products in Europe decreased by 6.3% during July to one billion barrels compared to the same period in 2021, and stocks fell by 0.6% on a monthly basis.
The data showed that European crude stocks fell by 0.7% to 431.36 million barrels last month, compared to June, while they fell by 4.2% on an annual basis.
Gasoline inventories decreased by 0.6% on a monthly basis and reached 110.84 million barrels, but rose by 9.7% on an annual basis.
Moreover, European refineries’ consumption of crude decreased by 0.3% on a monthly basis, reaching 9.499 million barrels, but increased by 4.1% compared to July 2021.
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