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- EIA’s report reveals unexpected advance in U.S. crude oil inventories
EIA’s report reveals unexpected advance in U.S. crude oil inventories
The
U.S. Energy Information Administration (EIA) reported on Wednesday that crude
inventories rose by 3.626 million barrels in the week ended July 30, following
a decline of 4.089 million barrels in the previous week. Economists had
forecast a draw of 3.102 million barrels.
At
the same time, gasoline stocks dropped by 5.292 million barrels, while analysts
had expected a fall of 1.780 million barrels. Distillate stocks grew by 0.833
million barrels, while analysts had forecast a draw of 0.543 million barrels.
Meanwhile, oil production in the U.S. remained unchanged at 11.200 million barrels a day.
U.S.
crude oil imports averaged 6.4 million barrels per day last week, down by
75,000 barrels per day from the previous week.
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