EIA: US crude inventories fall by 1.4 million barrels

Economy 5/16/2018, 4:31 PM
EIA: US crude inventories fall by 1.4 million barrels

United States oil inventories decreased by 1.4 million barrels to 432.4 million barrels for the week ending May 11, the US Energy Information Administration (EIA) reported on Wednesday. In the week before that, the crude oil inventories declined by 2.2 million barrels.

Crude oil inputs averaged 16.6 million barrels per day last week, 149,000 barrels per day more than the previous week's average. Refineries operated at 91.1% of their capacity. Gasoline production averaged over 10.5 million barrels per day, increasing slightly from the week before that.

Crude oil imports averaged 7.6 million barrels per day for the period, up 278,000 barrels per day compared to the week before that. Meanwhile, total commercial petroleum inventories fell 0.7 million barrels last week.

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