Crude oil stockpiles in the United States declined by 2.547 million barrels, more than analysts predicted, to land at 457.1 million barrels in the week ending June 14, the US Energy Information Administration (EIA) revealed in its report published on Thursday.
The crude oil refinery inputs averaged 16.8 million barrels per day (bpd), a decline of 281,000 bpd compared to the previous week. Refineries operated at 93.5% of their capacity. Meanwhile, gasoline production saw a weekly rise and averaged 10.2 million bpd.
Crude oil imports averaged 7.1 million bpd, a drop of 1.3 million bpd week-on-week. Furthermore, total commercial petroleum inventories went down by 200,000 bpd.
