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11/29/2023, 4:35 PM (Source: TeleTrader)
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EIA: US crude inventories up by 1.6 million barrels

Commercial crude oil inventories in the United States, not considering those in the Strategic Petroleum Reserve (SPR), increased by 1.6 million barrels to 449.7 million barrels in the week ending November 24, the Energy Information Administration (EIA) stated in its report published on Wednesday.

Oil refinery inputs averaged 16 million barrels per day (bpd) during the week ending November 24, rising by 518,000 bpd compared to the previous week's average. Refineries operated at 89.8% of their operable capacity. Meanwhile, gasoline production decreased and averaged 9.3 million bpd.

Crude oil imports decreased by 696,000 bpd week-on-week to average 5.8 million bpd. Total commercial petroleum inventories increased by 2.9 million barrels last week.

Baha Breaking News (BBN) / RR