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- EIA’s report reveals bigger-than-anticipated drop in U.S. crude oil inventories
EIA’s report reveals bigger-than-anticipated drop in U.S. crude oil inventories
The U.S. Energy
Information Administration (EIA) revealed on Wednesday that crude inventories dropped
by 3.135 million barrels in the week ended December 11. Economists had forecast
a decline of 1.937 million barrels.
At the same
time, gasoline stocks rose by 1.020 million barrels, while analysts had
expected a gain of 1.614 million barrels. Distillate stocks increased by 0.167
million barrels, while analysts had forecast an advance of 0.886 million
barrels.
Meanwhile, oil
production in the U.S. decreased by 100,000 barrels a day to 11.000 million barrels
a day.
U.S. crude oil
imports averaged 5.4 million barrels per day last week, decreased by 1.1
million barrels per day from the previous week.
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