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5/25, 4:31 PM (Source: TeleTrader)
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EIA: US crude inventories down by 1M barrels

Crude oil stockpiles in the United States decreased by 1 million to 419.8 million barrels in the week ending May 20, the US Energy Information Administration said in its weekly report on Wednesday. Total commercial petroleum inventories were up by 0.7 million barrels.

Crude oil refinery inputs averaged 16.3 million barrels per day during the same week, 334,000 barrels per day more than the previous week’s average. Gasoline production declined last week, averaging 9.4 million barrels per day, while refineries operated at 93.2% of their operable capacity in the same period.

Meanwhile, crude oil imports averaged 6.5 million barrels per day last week, down by 82,000 barrels compared to the previous week.

Baha Breaking News (BBN) / BU