Energy Preview: US Oil Inventories Rise By 2.6 Million Barrels, Says EIA

27 Oct 2022 , 08:22 AM

The Energy Information Administration reported a crude oil inventory increase of 2.6 million barrels for the week ending October 21. This compared with a draw of 1.7 million barrels for the previous week, accompanied by moderate moves in fuel inventories. Last week, the EIA reported a draw of 1.5 million barrels in gasoline inventories and a moderate increase of 200,000 barrels in middle distillate inventories. This compared with a gasoline inventory draw of 100,000 barrels for the previous week and the same-size increase in distillate inventories. Gasoline production during the week to October 21 averaged 9.4 million barrels daily, virtually unchanged on a week earlier. Powered by Commodity Insights