U.S. Energy Information Administration (EIA) revealed on Wednesday that crude
inventories declined by 6.718 million barrels in the week ended June 25,
following a tumble of 7.614 million barrels in the previous week. Economists
had forecast a draw of 4.686 million barrels.
At the same time, gasoline stocks increased by 1.522 million barrels, while analysts had expected a fall of 0.886 million barrels. Distillate stocks declined by 0.869 million barrels, while analysts had forecast a build of 0.486 million barrels.
Meanwhile, oil production in the U.S. remained unchanged at 11.100 million barrels a day.
crude oil imports averaged 6.4 million barrels per day last week, decreased by
0.5 million barrels per day from the previous week.
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