The U.S. Energy Information Administration (EIA) reported on Wednesday
that crude inventories fell by 2.224 million barrels in the week ended September
29, following a drop of 2.170 million barrels in the previous week. Economists had forecast a slip of 0.446 million barrels.
At the same time, gasoline stocks climbed by 6.481 million barrels, the
most since the week ended January 7, 2022 (+7.961 million barrels). Analysts had foreseen
a build of 0.161 million barrels. The previous week saw an increase of 1.027 million
barrels.
Elsewhere, distillate stocks decreased by 1.269 million barrels. Analysts
had predicted a fall of 0.333 million barrels. The previous week witnessed a growth
of 0.398 million barrels.
Meanwhile, oil production in the U.S. was
unchanged at 12.900 million barrels
per day, the highest level since late March 2020.
U.S. crude oil imports averaged 6.2 million barrels per day last week,
logging a drop of 1.000 million barrels per day from the week before.