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9/1, 4:32 PM (Source: TeleTrader)
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EIA: US oil inventories down by 7.2 million barrels

Commercial crude oil stockpiles in the United States declined by 7.2 million barrels in the week ending August 27, the Energy Information Administration said in its report published on Wednesday. The new figure now stands at 425.4 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 15.9 million barrels per day, 133,000 barrels per day less week-on-week. Last week, refineries operated at 91.3% of their operable capacity, with gasoline production dropping to an average of 9.9 million barrels per day.

Finally, US crude oil imports averaged 6.3 million barrels per day, which is 183,000 barrels more compared to the average registered the previous week. Total commercial petroleum inventories decreased by 13.6 million barrels last week.

Breaking the News / ND