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- EIA’s report reveals a surprise increase in U.S. crude oil inventories
EIA’s report reveals a surprise increase in U.S. crude oil inventories
The U.S. Energy
Information Administration (EIA) revealed on Wednesday that crude inventories
increased by 0.822 million barrels in the week ended December 6. Economists had
forecast a drop of 2.763 million barrels.
At the same
time, gasoline stocks surged by 5.405 million barrels, while analysts had
expected an increase of 2.561 million barrels. Distillate stocks climbed by 4.118
million barrels, while analysts had forecast an advance of 1.950 million
barrels.
Meanwhile, oil
production in the U.S. declined by 100,000 barrels a day to 12.800 million
barrels a day.
U.S. crude oil
imports averaged 6.9 million barrels per day last week, up by 899,000 barrels
per day from the previous week.
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