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5/28, 5:00 PM (Source: TeleTrader)
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EIA: US crude stockpiles rise by 7.9M barrels

Crude oil stockpiles in the United States increased by 7.9 million to 534.4 million barrels in the week ending May 22, the US Energy Information Administration said in its weekly report on Thursday.

Meanwhile, crude oil imports averaged 7.2 million barrels per day last week, up by 2 million barrels compared to the previous week. Gasoline production averaged 7.2 million barrels per day, according to the report.

The crude oil refinery inputs averaged 13 million barrels per day during the same week, 87,000 barrels per day more than the previous week’s average. Finally, the EIA said that refineries operated at 71.3% of their operable capacity in the same period.

Breaking the News / JC