US crude oil inventories down more than expected

WASHINGTON (Dow Jones) – US crude oil inventories fell more than expected in the week ending December 17th. They fell 4.715 million barrels from the previous week, according to the state Energy Information Administration (EIA). Analysts polled by Dow Jones Newswires had predicted a decline of 2.6 million barrels. In the previous week, inventories had decreased by 4.584 million barrels.

In the data published the day before by the private American Petroleum Institute (API), a decrease of 3.7 million barrels had been registered.

According to the EIA, gasoline inventories increased by 5.533 million barrels. Analysts had expected an increase of 0.1 million barrels after inventories had fallen by 0.719 million in the previous week. The API data had indicated an increase of 3.7 million barrels.

US oil production was 11.6 million barrels per day for the week, 0.1 million lower than the previous week.


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(END) Dow Jones Newswires

December 22, 2021 10:39 ET (15:39 GMT)

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