EIA: US crude inventories drop by 2.2 million barrels

Economy 5/9/2018, 4:31 PM
EIA: US crude inventories drop by 2.2 million barrels

United States oil inventories decreased by 2.2 million barrels to 433.8 million barrel for the week ending May 4, the US Energy Information Administration (EIA) reported on Wednesday. In the week before that, the crude oil inventories rose 6.2 million barrels.

Crude oil inputs averaged 16.5 million barrels per day last week, 75,000 barrels less than the previous week's average. Refineries operated at 90.4% of their capacity. Gasoline production averaged over 9.9 million barrel per day, slightly down from the week before that.

Crude oil imports averaged 7.3 million barrels per day for the period, declining 1,226 thousand barrels per day compared to the week before that. Meanwhile, total commercial petroleum inventories fell 1.5 million barrels last week.

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