US crude oil stockpiles fall: EIA

28/02/2019 Argaam

 

US crude inventories fell unexpectedly last week, the Energy Information Administration (EIA) said on Wednesday.

 

Crude inventories were down by 8.6 million barrels in the week to Feb. 22, compared with analysts’ expectations for an increase of 2.8 million barrels.

 

Oil stock at the Cushing, Oklahoma, delivery hub rose by 1.6 million barrels, EIA said.

 

Refinery crude runs rose by 179,000 barrels per day, EIA said, adding refinery utilization rates grew by 1.2 percentage points.

 

Gasoline stocks declined by 1.9 million barrels, while distillate stockpiles, which include diesel and heating oil, fell by 304,000 barrels.

 

Net US crude imports fell last week by 1.4 million barrels per day, the EIA added.

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