IEA: Despite 2005 Oil Stocks Build, More is Still Needed

The International Energy Agency warned Thursday that despite a rapid build in oil inventories during the first half of 2005, more stocks are still needed.

‘Stocks have built rapidly in the first half of 2005, despite $60 oil, but clearly, the market verdict remains more inventories are needed until investment responses catch up and demand patterns are clearer,’ the Paris-based agency said in its latest oil market report.
Schlumberger