The
U.S. Energy Information Administration (EIA) reported on Wednesday that crude
inventories declined by 4.584 million barrels in the week ended December 10, following
a decrease of 0.240 million barrels in the prior week. Economists had forecast
a draw of 2.082 million barrels.
At
the same time, gasoline stocks dropped by 0.719 million barrels, while analysts
had projected an increase of 1.606 million barrels. The prior week showed a jump
of 3.882 million barrels.
Elsewhere,
distillate stocks fell by 2.853 million barrels, while analysts had expected an
advance of 0.688 million barrels. The prior week revealed a build of 2.734 million
barrels.
Meanwhile,
oil production in the U.S. was unchanged at 11.700 million barrels a day.
U.S.
crude oil imports averaged 6.5 million barrels per day last week, down by
28,000 barrels per day from the prior week.