Energy Preview: US Crude Oil Inventories Surge 8.2 Million Barrels

8 Jul 2022 , 09:01 AM

The US Energy Information Administration reported a crude oil inventory build of 8.2 million barrels for the week to July 1 compared with a draw of 2.8 million barrels for the previous week. Gasoline inventories shed 2.5 million barrels, with production averaging 10.3 million barrels daily. This compared with an inventory build of 2.6 million barrels for the previous week, with production averaging 9.5 million barrels daily. In middle distillates, the authority estimated an inventory decline of 1.3 million barrels for the week to July first, with production averaging 5.4 million barrels daily. This compared with an inventory increase of 2.6 million barrels for the previous reporting period, and production averaging 5.1 million barrels daily.Powered by Commodity Insights