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03.02.2021 23:43

EIA’s report reveals unexpected drop in U.S. crude oil inventories

The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories decreased by 0.994 million barrels in the week ended January 29. Economists had forecast a build of 0.446 million barrels.

At the same time, gasoline stocks surged by 4.466 million barrels, while analysts had expected an increase of 1.134 million barrels. Distillate stocks edged down 0.009 million barrels, while analysts had forecast a draw of 0.429 million barrels.

Meanwhile, oil production in the U.S. remained unchanged at 10.900 million barrels a day.

U.S. crude oil imports averaged 6.5 million barrels per day last week, increased by 1.4 million barrels per day from the previous week.


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