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8/25, 4:33 PM (Source: TeleTrader)
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EIA: US oil inventories down by 3M barrels

Commercial crude oil stockpiles in the United States decreased by 3 million barrels in the week ending August 20, the US Energy Information Administration reported on Wednesday. The new figure now stands at 432.6 million barrels, which is around 6% below the five-year average for this period.

At the same time, crude oil refinery inputs in the US averaged 16.1 million barrels per day, up by 66,000 barrels per day week-on-week. Last week, refineries operated at 92.4% of their operable capacity, with gasoline production rising to an average of 10.2 million barrels per day.

Finally, US crude oil imports averaged 6.2 million barrels per day, which is 193,000 barrels less than compared to the average registered the previous week. Total commercial petroleum inventories decreased by 4.8 million barrels last week.

Breaking the News / LH