EIA Reports 3M Barrel Crude Build as Distillate Stocks Fall 12% Below Average
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6 Articles
EIA Reports 3M Barrel Crude Build as Distillate Stocks Fall 12% Below Average
Crude oil inventories in the United States saw an increase of 3 million barrels during the week ending September 18, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 426.4 million barrels, according to government data, which is now 2% above the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a da…
U.S. commercial crude oil inventories rose by approximately 3 million barrels last week to 426.4 million barrels. Market expectations were for a decrease of 700,000 barrels. Gasoline inventories fell, while daily oil production also declined.
In the US, inventory data closely watched by oil markets reversed expectations. While the market expected a decrease in crude oil inventories, EIA data indicated an increase of approximately 3 million barrels. Commercial crude oil inventories rose, while gasoline and strategic petroleum reserves declined. Oil production, imports, and exports in the country also recorded a weekly decrease.
The U.S. Energy Information Administration said commercial crude oil inventories increased by nearly 3 million barrels last week to 426 million 400 thousand barrels. The market expectation was for a decrease of about 700 thousand barrels, gasoline stocks decreased by 1 million 700 thousand barrels.
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