EIA crude oil stocks decrease by 3.5 million barrels, WTI remains above $ 71.50

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Commercial crude oil inventories in the U.S. declined by 3.5 million barrels in the week ending September 17, the weekly report released by the US Energy Information Administration (EIA).

Market reaction
This report does not appear to have a significant impact on oil prices. At time of writing, a barrel of West Texas Intermediate was up 1.15% on the day at $ 71.60.

Featured statements

“Total motor gasoline inventories increased by 3.5 million barrels last week and are about 3% below the five-year average for this time of year.”

“Inputs from US crude oil refineries averaged 15.3 million barrels per day during the week ending September 17, 2021.”

“US crude oil imports averaged 6.5 million barrels per day last week, an increase of 0.7 million barrels per day from the previous week.”

“Total products supplied during the last four-week period averaged 21.0 million barrels per day, 17.9% more than in the same period last year.”

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