Friday, June 12, 2009

Plus ça change

How much oil is stored in the European Union (EU)? Official oil inventory reporting in the EU is weak compared to that compiled in the US. Today the EU "overhauled" its reporting mechanism for oil inventories but rejected a proposal to report inventories weekly (as they are in the US). From Reuters:
"Monthly reporting of stock levels is a small change from the current system under which EU states must confirm each month whether they hold 90 days-stocks, but need provide no more detail." (Reuters)
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