The data - part of a report the Joint Technical Committee prepares for OPEC+ ministers - also shows stocks in the developed world standing at 62 million barrels below the 2015 to 2019 average by the end of the year.
This compares with OECD stocks rising 20 million barrels above the same average in the previous forecast. Ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, a grouping known as OPEC+, meet on March 2 to set policy.Reporting by Ahmad Ghaddar; Editing by David ClarkeSign up to our investor newsletter to get the latest news and trends in global financial markets.
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