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As on: Jan 26, 2021 02:38 AM
Energy Preview: EIA Reports Another Drop In US Crude Stocks
14-Jan-21   08:56 Hrs IST

The US Energy Information Administration (EIA) reported a crude oil inventory draw of 3.2 million barrels for the week to January 8. Last week, the EIA had reported a decline of 8 million barrels. EIA reported a 4.4-million-barrel increase in gasoline inventories and a 4.8-million-barrel rise in distillate fuel inventories. This compared with a 4.5-million-barrel increase in gasoline stocks and an even bigger, 6.4-million-barrel rise in middle distillate inventories a week earlier.

Gasoline production stood at 7.5 million bpd last week, down from 8 million bpd a week earlier. Production of middle distillates averaged 4.7 million bpd last week, compared with 4.8 million bpd a week earlier. Refinery crude runs rose by 274,000 barrels per day in the last week, EIA said. Refinery utilization rates rose by 1.3 percentage points, in the week, boosting overall refining use to 82% of capacity, highest since August 2020.

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