Commodities Buzz: EIA Crude Oil Inventories Down 3.3 Milion Barrels

1 Sep 2022 , 09:20 AM

The US Energy Information Administration reported an inventory draw of 3.3 million barrels for the week to August 26. At 418.3 million barrels, inventories are 6 percent below the five-year average for this time of the year. The number for the week to August 26 compared with a draw of 3.3 million barrels for the previous week. In gasoline, the EIA reported an inventory decline of 1.2 million barrels for the week to August 26. This compared with a decline of 4.6 million barrels for the previous week. The US Gasoline production last week averaged 9.8 million barrels daily, which compared with 9.4 million bpd for the previous week.Powered by Commodity Insights