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- EIA’s report reveals surprise build in U.S. weekly crude oil inventories
EIA’s report reveals surprise build in U.S. weekly crude oil inventories
The
U.S. Energy Information Administration (EIA) reported on Wednesday that crude
inventories surged by 4.578 million barrels in the week ended September 24,
following a decrease of 3.481 million barrels in the previous week. Economists
had forecast a draw of 1.652 million barrels.
At the same time, gasoline stocks rose by 0.193 million barrels, while analysts had expected a gain of 1.400 million barrels. Distillate stocks increased 0.385 million barrels, while analysts had forecast a decline of 1.648 million barrels.
Meanwhile,
oil production in the U.S. climbed 500,000 barrels a day to 11.100 million
barrels a day.
U.S.
crude oil imports averaged 6.6 million barrels per day last week, up by 87,000
barrels per day from the previous week.
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