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12/2/2020, 4:30 PM (Source: TeleTrader)
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EIA: US crude inventories slide 0.7 million barrels

Crude oil stockpiles in the United States declined by 0.7 million barrels to land at 488 million barrels in the week ending November 27, missing the analysts' estimates, the US Energy Information Administration stated in its weekly report on Wednesday.

During the same period, crude oil imports averaged 5.4 million barrels per day, up by 171,000 barrels compared to the week prior. Gasoline production decreased in the past seven days, averaging 8.6 million barrels per day, the data showed.

The crude oil refinery inputs averaged 14.0 million barrels per day during the same 7-day period, which was 251,000 barrels per day less than the last week’s average. EIA's report unveiled that refineries operated at 78.2% of their operable capacity in the same period.

Breaking the News / BU