Energy Preview: US Oil Inventory Up By Nearly 10 Million, Reports EIA

14 Oct 2022 , 08:45 AM

The Energy Information Administration reported a crude oil inventory build of 9.9 million barrels for the week to October 7. At 439.1 million barrels, U.S. crude oil inventories are 1 percent below the five-year average for this time of the year. A week earlier, inventories recorded a draw of 1.4 million barrels. In fuels, the EIA reported mixed changes. Gasoline stocks added 2 million barrels last week, which compared with a 4.7-million-barrel decline for the previous week. Production averaged 9.2 million barrels daily last week, which compared with 10 million bpd a week earlier. In distillate fuels, the EIA estimated an inventory draw of 4.9 million barrels for the week to October 7. This compared with a draw of 3.4 million barrels for the previous week. Powered by Commodity Insights