Explanation of the Industry Column
Industry stocks include stocks held for commercial and operational purposes as well as stocks held by industry to meet minimum national stockholding requirements. This may include stocks held in other countries under bilateral agreements (see “of which, stocks held abroad”). This column does not include any amounts of oil that industry is holding for the benefit of another country under a bilateral agreement. Such stocks are reported under the country for which they are being held.
Stocks held by industry, whether for commercial purposes or in order to comply with national stockholding rules, can count toward meeting a country’s IEA stockholding commitment. Most member governments require certain companies, such as importers, refiners, product suppliers or wholesalers, to hold a minimum number of days of stocks. Generally, the required amount is based on a percentage of the previous year’s sales, consumption or imports.