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5/12, 4:30 PM (Source: TeleTrader)
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EIA: US crude inventories fall by 0.4 million barrels

Crude oil stockpiles in the United States decreased by 0.4 million to 484.7 million barrels in the week ending May 7, the US Energy Information Administration said in its weekly report on Wednesday. Total commercial petroleum inventories were up by 3.9 million barrels.

Crude oil refinery inputs averaged 15 million barrels per day during the same week, 223,000 barrels per day less than the previous week’s average. Gasoline production increased last week, averaging 9.6 million barrels per day, while refineries operated at 86.1% of their operable capacity in the same period.

Meanwhile, crude oil imports averaged 5.5 million barrels per day last week, up by 37,000 barrels compared to the previous week.

Breaking the News / NP