US oil inventories decline more than expected

31/07/2024 Argaam

US oil inventories decline more than expected

Oil tanks


Crude oil inventories in the US fell more than expected in the week ended July 26, according to a report released by the Energy Information Administration (EIA) today, July 31.

 

Crude oil inventories fell by 3.4 million barrels last week, compared to expectations for a drop of 1.6 million barrels.

 

Gasoline stocks decreased by 3.7 million barrels, while distillate fuel inventories were up by 1.5 million barrels.

 

US Crude & Derivatives Inventories (mln barrels)

Type

Last Year

Last Week

Current

Weekly Change

Crude oil

439.8

436.5

433.0

(3.4)

Gasoline

219.1

227.4

223.8

(3.7)

Distillates

117.2

125.3

126.8

+1.5

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