US Crude Oil Inventories Plunge by 4.7 Million Barrels, Imports Edge Lower

US Crude Oil Inventories Plunge by 4.7 Million Barrels, Imports Edge Lower

(EIA) Crude oil inventories in the US for the week that ended December 17 was 423.6 million barrels, down by 4.7 million barrels from the previous week.

The crude imports also fell to an average of 6.2 million barrels per day, which was 277,000 barrels below the previous week. The imports were at an average of 6.4 million bpd in the past four weeks, up 12.7% from the prior year.

Refinery inputs were 15.8 million bpd, up 148,000 bpd from the previous week, with refineries operating at 89.6% capacity.

The overall products supplied in the past four weeks rose 11.0% year over year to an average of 20.9 million bpd.

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