US crude inventories drop much more than expected in most current week – EIA
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Crude inventories fell by 6.1 million barrels in the week ended Dec. 25 to 493.5 million barrels, compared with analysts’ anticipations in a Reuters poll for a 2.6 million-barrel fall.
FILE Picture: Equipment utilized to process carbon dioxide, crude oil and drinking water is found at an Occidental Petroleum Corp increased oil restoration project in Hobbs, New Mexico, U.S. on Might 3, 2017. REUTERS/Ernest Scheyder
NEW YORK: Crude inventories fell by 6.1 million barrels in the week finished Dec. 25 to 493.5 million barrels, compared with analysts’ anticipations in a Reuters poll for a 2.6 million-barrel drop.
Crude stocks at the Cushing, Oklahoma, shipping and delivery hub rose by 27,000 barrels in the past 7 days, EIA explained.
Refinery crude operates rose by 273,000 barrels for every day in the past week, EIA stated.
Refinery utilization costs rose by 1.4 share points, in the week.
U.S. gasoline stocks fell by 1.2 million barrels in the week to 236.56 million barrels, the EIA explained, as opposed with analysts’ expectations in a Reuters poll for a 1.7 million-barrel rise.
Distillate stockpiles, which include things like diesel and heating oil, rose by 3.1 million barrels in the 7 days to 152.03 million barrels, as opposed to anticipations for a .5 million-barrel increase, the EIA details confirmed.
Net U.S. crude imports fell final 7 days by 764,000 barrels for every day, EIA explained.
(Reporting By Jessica Resnick-Ault Enhancing by Chizu Nomiyama)
