Thursday, September 20, 2018

U.S. Crude Stockpiles Fall More Than Expected - EIA

Posted by August 29, 2018

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U.S. crude stocks fell more than forecast last week, while gasoline and distillate inventories dropped unexpectedly, the Energy Information Administration said on Wednesday.

Crude inventories fell by 2.6 million barrels in the week to Aug. 24, compared with analysts' expectations for a decrease of 686,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 58,000 barrels, EIA said.

Refinery crude runs fell by 326,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.8 percentage points.

Gasoline stocks fell by 1.6 million barrels, compared with analysts' expectations in a Reuters poll for a 370,000-barrel gain.

Distillate stockpiles, which include diesel and heating oil, fell by 837,000 barrels, versus expectations for a 1.6 million-barrel increase, the EIA data showed.

Net U.S. crude imports fell last week by 657,000 bpd.

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