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15.11.2019 00:12

EIA’s report reveals bigger-than-expected increase in U.S. crude oil inventories

The U.S. Energy Information Administration (EIA) revealed on Thursday that crude inventories increased by 2.219 million barrels in the week ended November 8. Economists had forecast a gain of 1.500 million barrels.

At the same time, gasoline stocks rose by 1.861 million barrels, while analysts had expected a drop of 1.250 million barrels. Distillate stocks reduced by 2.477 million barrels, while analysts had forecast a decrease of 0.950 million barrels.

Meanwhile, oil production in the U.S. climbed by 200,000 barrels a day to 12.800 million barrels a day, which is a record high.

U.S. crude oil imports averaged 5.8 million barrels per day last week, down by 327,000 barrels per day from the previous week.


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