Crude Oil Inventories Fall by 0.4M Barrels Despite Expected Increase

Crude Oil Inventories Fall by 0.4M Barrels Despite Expected Increase

(EIA) US crude oil inventories hit 426.5 million barrels for the week that ended October 15, a decline of 400,000 barrels from the previous week. The inventories were expected to increase by 1.28 million barrels.

Crude oil refinery inputs also fell to an average rate of 15.0 million bpd, 71,000 bpd below the previous week. Refineries were operating at 84.7% of their capacity.

Gasoline production rose to an average of 10.1 million bpd. Distillate production fell to an average of 4.4 million bpd.

Crude imports in the US were down by 169,000 bpd to an average of 5.8 million bpdю

Overall, the total supplied over the last four weeks rose by 14.0% from the prior year to an average of 20.9 million bpd.

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