The U.S. Energy
Information Administration (EIA) revealed on Wednesday that crude inventories
dropped by 6.065 million barrels in the week ended December 25. Economists had
forecast a decrease of 2.583 million barrels.
At the same
time, gasoline stocks declined by 1.192 million barrels, while analysts had
expected a build of 1.662 million barrels. Distillate stocks surged by 3.095
million barrels, while analysts had forecast an increase of 0.529 million
barrels.
Meanwhile, oil
production in the U.S. remained unchanged at 11.000 million barrels a day.
U.S. crude oil
imports averaged 5.3 million barrels per day last week, down by 238,000 barrels
per day from the previous week.
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