Market news
01.07.2020, 14:34

EIA’s report reveals much-bigger-than-forecast drop in U.S. crude oil inventories

The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories fell by 7.195 million barrels in the week ended June 26. Economists had forecast a decrease of 0.950 million barrels.

At the same time, gasoline stocks rose by 1.199 million barrels, while analysts had expected a drop of 1.583 million barrels. Distillate stocks decreased by 0.593 million barrels, while analysts had forecast a decline of 0.393 million barrels.

Meanwhile, oil production in the U.S. remained unchanged at 11.000 million barrels a day.

U.S. crude oil imports averaged 6.0 million barrels per day last week, decreased by 0.6 million barrels per day from the previous week.

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