The International Energy Agency (IEA) has said that oil inventories held by Organisation for Economic Cooperation and Development (OECD) member countries fell in May to their lowest level since 1990 as governments drew down stocks to offset the blockage of Gulf crude shipments during the Mideast war, according to AFP.

The drawdown since the start of the conflict has reached 163 million barrels in the OECD club of wealthy countries, the IEA said in its monthly report.