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As on: Oct 27, 2020 08:22 PM
Energy Preview: EIA Says US Crude Oil Inventories Drop By 3.8 Million Barrels
16-Oct-20   09:09 Hrs IST

The Energy Information Administration (EIA) reported an inventory draw of 3.8 million barrels for the week to October 9. At 489.1 million barrels, the US crude oil inventories were above the five-year seasonal average.

In gasoline, the EIA reported an inventory draw of 1.6 million barrels compared with a decline of 1.4 million barrels a week earlier. Gasoline production averaged 9.2 million bpd last week, compared with 9.5 million bpd a week earlier.

In distillate fuels, the EIA estimated a stock decline of 7.2 million barrels, compared with a 1-million-barrel draw a week earlier. Production of distillate fuels averaged 4.3 million bpd last week, compared with 4.5 million bpd a week earlier.

EIA reported that US crude oil refinery inputs averaged 13.6 million barrels per day, a fall of 277,000 barrels from the previous week’s average. US crude oil imports also fell by 477,000 barrels to register at 5.3 million barrels per day for the week ended October 9, 2020.

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