Days of Supply from OECD Inventories, 1995-2000

Sources: History: EIA; Projections: Short-Term Energy Outlook, August 2000.

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… OECD inventories are expected to remain at very low levels when looked at a days supply basis. (Days supply is the number of days of future demand that can be covered by inventories.) Thus, with inventories likely to provide several days less coverage than in the 4th quarter of 1996, for example, prices are expected to remain relatively high in comparison to historical averages.