Commodities Buzz: EIA Reports Massive Draw In Crude Oil Inventory

18 Aug 2022 , 10:02 AM

The Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12. This compared with a build of 5.5 million barrels reported for the previous week. In gasoline, the EIA estimated an inventory draw of 4.6 million barrels for last week, which compared with a 5-million-barrel decline for the previous week. Gasoline production averaged 10 million bpd last week, which compared with 10.2 million bpd during the previous week.Powered by Commodity Insights