Commercial crude oil inventories in the U.S. declined by 3 million barrels in the week ending August 20, the weekly report released by the US Energy Information Administration (EIA). The analysts’ estimate was for a decrease of 2.6 million barrels.
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 (WTI) posted small losses at $ 67.50.
Additional declarations
“Total motor gasoline inventories decreased by 2.2 million barrels last week.”
“Inputs from US crude oil refineries averaged 16.1 million barrels per day for the week ending August 20.”
“US crude oil imports averaged 6.2 million barrels per day last week, 193,000 barrels per day less than the previous week.”
“Total products supplied during the last four-week period averaged 21.0 million barrels per day, 13.4% more than in the same period last year.”
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