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17.07.2019, 14:36

EIA’s report reveals decline in U.S. crude oil inventories

The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories declined by 3.116 million barrels in the week ended July 12. Economists had forecast a fall of 3.000 million barrels.

At the same time, gasoline stocks increased by 3.565 million barrels, while analysts had expected a drop of 2.400 million barrels. Distillate stocks surged by 5.686 million barrels, while analysts had forecast a decline of 1.000 million barrels.

Meanwhile, oil production in the U.S. decreased by 300,000 barrels a day to 12.000 million barrels a day.

U.S. crude oil imports averaged 6.8 million barrels per day last week, down by 470,000 barrels per day from the previous week.

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