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- EIA’s report reveals bigger-than-anticipated draw in U.S. crude oil inventories
EIA’s report reveals bigger-than-anticipated draw in U.S. crude oil inventories
The
U.S. Energy Information Administration (EIA) revealed on Thursday that crude
inventories plunged by 5.080 million barrels in the week ended May 28,
following a drop of 1.662 million barrels in the previous week. Economists had
forecast a draw of 2.443 million barrels.
At the same time, gasoline stocks rose by 1.500 million barrels, while analysts had expected a decline of 1.479 million barrels. Distillate stocks surged by 3.720 million barrels, while analysts had forecast a decrease of 1.479 million barrels.
Meanwhile,
oil production in the U.S. decreased by 200,000 barrels a day to 10.800 million
barrels a day.
U.S.
crude oil imports averaged 5.6 million barrels per day last week, decreased by
0.6 million barrels per day from the previous week.
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