Commodities Buzz: EIA Says US Crude Inventories Fall By 5.4 Million Barrels

17 Nov 2022 , 03:46 PM

The U.S. Energy Information Administration reported an inventory decline of 5.4 million barrels for the week to November 11. This compares with an inventory build of 3.9 million barrels for the previous week. Gasoline inventories added 2.2 million barrels over the week to November 11, with production averaging 9.8 million barrels per day, up slightly on the week. This compared with an inventory draw of 900,000 barrels for the previous week and production of 9.8 million barrels daily. In middle distillates, the EIA estimated an inventory increase of 1.1 million barrels for the week to November 11. This compared with a draw of 500,000 barrels for the previous week. Middle distillate production averaged 5.1 million barrels daily last week, which compared with 5.2 million barrels daily for the previous week.Powered by Commodity Insights