Global oil stockpiles fell to a seven-month low in November but OPEC, which kept its 2021 demand outlook little changed from last month’s forecast, has signaled it is still trying to shrink them further. Receive daily email alerts, subscriber notes & personalize your experience. Register Now OECD commercial oil inventories declined in November to 3.104 billion barrels, some 163.1 million barrels above the five-year average, OPEC said Jan. 14 in its latest monthly oil market report. That’s the lowest since 140.6 million barrels in April. OPEC Secretary-General Mohammed Barkindo told a Gulf Intelligence forum on Jan. 13 that the stocks are not low enough. “What we are focused on is how can we assist the market in accelerating the stock drawdown in […]