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- EIA’s report reveals bigger-than-anticipated decline in U.S. crude oil inventories
EIA’s report reveals bigger-than-anticipated decline in U.S. crude oil inventories
The
U.S. Energy Information Administration (EIA) reported on Wednesday that crude
inventories plunged by 6.422 million barrels in the week ended September 10,
following a draw of 1.529 million barrels in the previous week. Economists had
forecast a drop of 3.903 million barrels.
At
the same time, gasoline stocks fell by 1.858 million barrels, while analysts
had expected a decrease of 1.957 million barrels. Distillate stocks declined 1.688
million barrels, while analysts had forecast a fall of 1.612 million barrels.
Meanwhile,
oil production in the U.S. increased 100,000 barrels a day to 10.100 million
barrels a day.
U.S.
crude oil imports averaged 5.8 million barrels per day last week, down by
48,000 barrels per day from the previous week.
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