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US oil inventories decreased by one million barrels

2022-05-25T18:47:47.440Z

New York, SANA- Official data showed today a drop, close to expectations, in stocks of crude oil and gasoline in the...



New York-Sana

Today, official data showed a drop in US crude oil and gasoline inventories, while distillate stocks increased.

The US Energy Information Administration said in a statement that US commercial crude oil stocks fell by one million barrels to 419.8 million barrels in the week ending May 20.

US gasoline inventories also decreased by 500,000 barrels last week, while analysts expected a decrease of 634,000 barrels.

The Energy Information Administration reported that US inventories of distillates, including diesel, heating fuel and jet fuel, increased by 1.7 million barrels last week, nearly twice the analysts' estimates, who had expected a rise of 917,000 barrels.

According to the data, the average consumption of crude oil by US refineries reached 16.3 million barrels per day during the past week, an increase of 334 thousand barrels over the daily average of the previous week.

The average US imports of crude oil reached 6.5 million barrels per day last week, down by 82 thousand barrels per day compared to the previous week.

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Source: sena

All business articles on 2022-05-25

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