US oil inventories decline by 7M barrels

05/09/2024 Argaam
Oil tanks

Oil tanks

Crude oil inventories in the US fell more than expected in the week ended Aug. 30, according to a report released by the Energy Information Administration (EIA).

 

Crude oil inventories declined 6.9 million barrels last week, compared to expectations for a drop of about 600,000 barrels.

 

Gasoline stocks increased by 800,000 barrels, while distillate fuel inventories were down by nearly 400,000 barrels.

 

US Crude & Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil  

416.6

425.2

418.3

(6.9)

Gasoline  

214.7

218.4

219.2

+0.8

Distillates  

118.6

123.1

122.7

(0.4)
 

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