Global commercial stocks
−400M bbl
year-to-date · EIA est. (Sep 9)
US Strategic Petroleum Reserve
−129M bbl
since Feb 28 · EIA
IEA coordinated release
400M bbl
pulled from 32 countries · IEA
China commercial stockpiles
~2–3M b/d
withdrawals inferred from customs data · official SPR untouched
Decline in oil demand
−2.5M b/d
full-year 2026, cut from −1.6 in the August edition · IEA OMR, Sep 11
Remaining supply shortfall
−1.8M b/d
Q3 2026 forecast — supply below demand · IEA OMR, Aug 12