Energy Preview: US Oil Inventories Fall By 1.7 Million Barrels, Says EIA

20 Oct 2022 , 08:22 AM

The U.S. Energy Information Administration reported crude oil inventories had shed 1.7 million barrels in the week to October 14. This compared with an inventory build of 9.9 million barrels for the previous week and an API estimate of declines in both crude and fuels for the week to October 14. In gasoline stocks, the EIA reported a draw of 100,000 barrels, which compared with a build of 2 million barrels for the previous week. Gasoline production averaged 9.4 million bpd in the week to October 14, which compared with 9.2 million bpd during the previous week. In distillate fuels, the EIA reported an inventory increase of 100,000 barrels for last week. This compared with two consecutive weekly draws of a combined 8.3 million barrels. Powered by Commodity Insights