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Oil Stockpile Dropped by 1.662 Million Barrels Last Week: EIA

Published 2021-05-26, 10:38 a/m
© Reuters.
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By Liz Moyer

Investing.com -- U.S. oil stockpiles declined by slightly more than expected in the latest week, the Energy Information Administration said on Wednesday.

Crude oil inventories fell 1.662 million barrels last week, compared with analysts' expectations for a draw of 1.05 million barrels.

Distillate stockpiles, which include diesel and heating oil, fell 3.013 million barrels in the week against expectations for a draw of 1.9 million barrels, the EIA data showed.

Refinery crude runs were 123,000 barrels. The weekly refinery utilization rate rose 0.7%, according to the EIA report.

Gasoline inventories fell 1.745 million barrels last week the EIA said, compared with expectations for a draw of 614,000 barrels.

 

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