Market news
20.11.2019, 15:35

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

The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories increased by 1.379 million barrels in the week ended November 15. Economists had forecast a gain of 1.500 million barrels.

At the same time, gasoline stocks rose by 1.756 million barrels, while analysts had expected a gain of 0.750 million barrels. Distillate stocks reduced by 0.974 million barrels, while analysts had forecast a decrease of 1.000 million barrels.

Meanwhile, oil production in the U.S. was unchanged at 12.800 million barrels a day.

U.S. crude oil imports averaged 6.0 million barrels per day last week, up by 222,000 barrels per day from the previous week.

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