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  • EIA’s report shows a bigger-than-expected decline in U.S. weekly crude oil inventories
Ekonomické zprávy
07.08.2024

EIA’s report shows a bigger-than-expected decline in U.S. weekly crude oil inventories

The U.S. Energy Information Administration (EIA) informed on Wednesday that crude inventories declined by 3.728 million barrels in the week ended August 2, following a fall of 3.436 million barrels in the previous week. Overall, this marked the sixth straight weekly decrease in the U.S. crude inventories. Economists had forecast a slip of 0.400 million barrels.

At the same time, gasoline stocks increased by 1.340 million barrels, recording the first gain in three weeks. Analysts had forecast a draw of 1.800 million barrels. The previous week saw a drop of 3.665 million barrels.

Elsewhere, distillate stocks rose by 0.949 million barrels. Analysts had expected a build of 0.200 million barrels. The previous week witnessed a climb of 1.534 million barrels.

Meanwhile, oil production in the U.S. advanced by 100,000 barrels a day to 13.400 million barrels per day, the highest level on record.

U.S. crude oil imports averaged 6.2 million barrels per day last week, logging a fall of 729,000 barrels per day from the week before.

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