WASHINGTON (Dow Jones)–U.S. crude oil inventories fell surprisingly sharply in the week ended December 22nd. According to the state Energy Information Administration (EIA), they fell by 7.114 million barrels compared to the previous week. Analysts polled by Dow Jones Newswires had only predicted a decline of 2.4 million barrels. In the previous week, inventories had increased by 2.909 million barrels.
According to EIA data, gasoline inventories decreased by 0.669 million barrels. Analysts, however, had expected a gain of 0.1 million barrels, after inventories rose by 2.71 million in the previous week. U.S. oil production for the week was on par with the previous week at 13.3 million barrels per day. Compared to the same period last year, there was an increase of 1.3 million barrels.
Website: http://www.eia.gov/petroleum/supply/weekly/
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(END) Dow Jones Newswires
December 28, 2023 11:17 ET (16:17 GMT)