June 23, 2011 / 7:25 PM / 8 years ago

Factbox: How much is 60 million barrels of oil?

(Reuters) - The International Energy Agency’s on Monday surprised oil traders by announcing the release of strategic government petroleum stockpiles in a bid to push down prices and support the global economy.

But just how big is the 60 million barrels of oil they plan to release over the next 30 days?


* $6.42 billion — the value of 60 million barrels based on the Brent crude oil benchmark.

* 30 — the number of supertankers needed to move 60 million barrels of oil by sea. One supertanker carries 2 million barrels. By contrast, Italy consumes 1.5 million barrels per day.

* 3,815 — the number of Olympic sized swimming pools you could fill with the oil.

* 50 days — the number of days of lost Libyan output it is roughly equivalent to.

* 78.8 million — the number of Hummer H2 SUV’s petroleum tanks that could be filled with the oil.

* 1.3 days — it is about 1.3 days of total oil demand in the member countries of the Organisation of Economic Co-operation and Development (OECD).

* 2/3 — it is roughly two-thirds of just one day’s global oil demand in the third quarter of this year, estimated by the IEA at more than 90 million barrels.

* 3 — it is just over three days of total U.S. oil consumption or 6.5 days of U.S. gasoline demand.

* 18 — the number of days that the entire continent of Africa’s oil demand could be met by 60 million barrels.

* 1.6 billion — it is just 3.75 percent of all emergency stocks held by the 28 member countries of the IEA, which currently total around 1.6 billion barrels

* 8.3 percent — It is the equivalent of 8.3 percent of the U.S. Strategic Petroleum Reserve, which currently stands at 726.5 million barrels.

* 60 million — the number of standard sized American bath tubs that the oil could fill, based on an average size of 42 gallons.

Sources: EIA, IEA, BP Conversion Factors

Reporting by David Sheppard; editing by Lisa Shumaker

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