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A sharp drop in US oil stocks

2022-08-17T18:47:38.403Z

New York, SANA- The US Energy Information Administration announced today that oil and gasoline stocks in the United States



New York-Sana

The US Energy Information Administration announced today that US oil and gasoline inventories fell last week due to a significant drop in crude imports.

According to US Energy Information Administration data reported by Reuters, crude stocks fell by 7.1 million barrels over the past week to 425 million barrels, compared to expectations of analysts included in a Reuters poll for a decrease of 275,000 barrels.

Gasoline stocks fell 4.6 million barrels to 215.7 million barrels, while analysts' expectations in a Reuters poll indicated a decline of 1.1 million barrels.

The data also showed that stocks of distillates, which include diesel and heating oil, rose by 766,000 barrels over the past week to 112.3 million barrels, while it was expected to record an increase of 440 thousand barrels.

The data also indicated that net imports of US crude oil fell by 2.93 million barrels per day last week to 1.13 million barrels, the lowest level ever.

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Source: sena

All business articles on 2022-08-17

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