Energy Preview: EIA Crude Oil Inventories Decline By 12.6 Million Barrels

The US Energy Information Administration (EIA) reported a crude oil inventory decline of 12.6 million barrels for the week to November 25. At 419.1 million barrels, oil inventories are 8 percent below the five-year average for this time of the year. Gasoline inventories added 2.8 million barrels in the reporting period, with production averaging 9.4 million bpd. This compared with a build of 3.1 million barrels for the previous week, with production at 9.2 million barrels daily. In middle distillates, the EIA reported an inventory increase of 3.5 million barrels for the week to November 25, with production averaging 5.3 million bpd. This compared with an inventory build of 1.7 million barrels for the previous week and production of 5.1 million bpd.Powered by Commodity Insights