EIA: US oil inventories down by 1.7M barrels

Economy 1/9/2019, 4:30 PM
EIA: US oil inventories down by 1.7M barrels

United States crude oil inventories declined by 1.7 million barrels to 439.7 million barrels for the week ending January 4, the US Energy Information Administration (EIA) said on Wednesday.

Crude oil refinery inputs averaged 17.6 million barrels per day during the same week, which is 194,000 barrels less than the previous week's average. Refineries operated at 96.1% of their capacity. Meanwhile, gasoline production was higher compared to the previous week, averaging 9.4 million barrels per day.

Crude oil imports averaged 7.8 million barrels per day last week, up by 454,000 barrels per day from the previous week. Total commercial petroleum inventories increased by 13.3 million barrels.

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