Market news
24.03.2021, 14:36

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 rose by 1.912 million barrels in the week ended March 19, following a build of 2.396 million barrels in the previous week. Economists had forecast a drop of 0.272 million barrels.

At the same time, gasoline stocks increased by 0.203 million barrels, while analysts had expected a gain of 1.186 million barrels. Distillate stocks climbed by 3.806 million barrels, while analysts had forecast a decrease of 0.122 million barrels.

Meanwhile, oil production in the U.S. grew by 100,000 barrels a day to 11.000 million barrels a day.

U.S. crude oil imports averaged 5.6 million barrels per day last week, up by 0.3 million barrels per day from the previous week.

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