Energy Preview: EIA Reports Increase Of Nearly 4 Million Barrels In US Crude Inventories

10 Nov 2022 , 09:04 AM

The US Energy Information Administration reported a crude oil inventory build of 3.9 million barrels for the week to November 4. This compared with a draw of 3.1 million barrels for the previous week, which followed a weekly build of 2.6 million barrels, as estimated by the EIA. In gasoline, the EIA estimated an inventory decline of 900,000 barrels, with production averaging 9.8 million barrels daily. This compared with a draw of 1.3 million barrels for the previous week and production of 9.5 million barrels daily. In middle distillates, the EIA estimated an inventory draw of half a million barrels for the week to November 4, with production at a daily average of 5.2 million barrels. This compared with a build of 400,000 barrels for the previous week that followed another modest increase in inventories, at 200,000 barrels. Middle distillate production for the previous week stood at 5.1 million barrels daily.Powered by Commodity Insights