Oil stocks have fallen back to more normal levels because of Opec cuts

One thousand barrels of oil (Mbbls)

OECD commercial stocks

5-year rolling average

2,600

2,700

2,800

2,900

3,000

3,100

Q2 2015

Q4 2015

Q2 2016

Q4 2016

Q2 2017

Q4 2017