5/26, 4:30 PM (Source: TeleTrader)
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EIA: US crude inventories down by 1.7 million barrels

The United States commercial crude oil stockpiles decreased by 1.66 million barrels to 484.3 million barrels in the week ending May 21, the US Energy Information Administration stated in its weekly report on Wednesday.

Crude oil refinery inputs in the US averaged 15.2 million barrels per day, an increase of 123,000 barrels per day when compared to the average recorded the previous week. Last week, refineries operated at 87% of their operable capacity, as gasoline production declined to an average of 9.7 million barrels per day.

US crude oil imports averaged 6.3 million barrels per day, 138,000 barrels less week-on-week. Total commercial petroleum inventories declined by 7.7 million barrels last week.

Breaking the News / OL