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- EIA’s report reveals much-bigger-than-forecast drop in U.S. crude oil inventories
EIA’s report reveals much-bigger-than-forecast drop in U.S. crude oil inventories
The U.S. Energy
Information Administration (EIA) revealed on Wednesday that crude inventories fell
by 7.195 million barrels in the week ended June 26. Economists had forecast a
decrease of 0.950 million barrels.
At the same
time, gasoline stocks rose by 1.199 million barrels, while analysts had
expected a drop of 1.583 million barrels. Distillate stocks decreased by 0.593
million barrels, while analysts had forecast a decline of 0.393 million
barrels.
Meanwhile, oil
production in the U.S. remained unchanged at 11.000 million barrels a day.
U.S. crude oil
imports averaged 6.0 million barrels per day last week, decreased by 0.6
million barrels per day from the previous week.
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