Global observed oil inventories fell in October, with the first drop in oil product stocks for the first time in four months, the International Energy Agency (IEA) said on Thursday. Global observed oil inventories dropped by 19.6 million barrels in October, with crude inventories largely unchanged, but with the first decline in refined petroleum stocks in four months. The falling product stocks in October reversed the trend from the third quarter when oil product stocks rose by 1.3 million barrels per day (bpd), while crude drew 1.6 million bpd…
