The
U.S. Energy Information Administration (EIA) announced on Wednesday that crude
inventories fell by 3.576 million barrels in the week ended December 24,
following a draw of 4.715 million barrels in the prior week. Economists had
forecast a decrease of 3.143 million barrels.
At
the same time, gasoline stocks dropped by 1.458 million barrels, while analysts
had expected an increase of 0.487 million barrels. The prior week showed a surge
of 5.533 million barrels.
Elsewhere,
distillate stocks declined by 1.726 million barrels, while analysts had
expected a gain of 0.175 million barrels. The prior week revealed a build of 0.396
million barrels.
Meanwhile,
oil production in the U.S. increased by 200,000 barrels a day to 11.800 million
barrels per day.
U.S.
crude oil imports averaged 6.8 million barrels per day last week, increased by
0.6 million barrels per day from the prior week.