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- EIA’s report reveals smaller-than-expected advance in U.S. crude oil inventories
EIA’s report reveals smaller-than-expected advance in U.S. crude oil inventories
The
U.S. Energy Information Administration (EIA) revealed on Wednesday that crude
inventories rose by 0.090 million barrels in the week ended April 23, following
a build of 0.594 million barrels in the previous week. Economists had forecast
a gain of 0.659 million barrels.
At
the same time, gasoline stocks edged up 0.092 million barrels, while analysts
had expected an increase of 0.508 million barrels. Distillate stocks tumbled by
3.342 million barrels, while analysts had forecast a decrease of 0.648 million
barrels.
Meanwhile,
oil production in the U.S. fell by 100,000 barrels a day to 10.900 million
barrels a day.
U.S.
crude oil imports averaged 6.6 million barrels per day last week, increased by
1.2 million barrels per day from the previous week.
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