U.S. crude oil inventories decreased last week, according to data released by the Energy Information Administration (EIA) on Wednesday. Commercial crude oil stocks fell by 1.1 million barrels, or 0.1%, to 468.5 million barrels for the week ending June 28, the EIA data showed. Stocks fell by 12.8 million barrels during the previous week.
Strategic petroleum reserves, which are not included in the commercial crude stocks, remained unchanged at 644.8 million barrels last week, according to the data. Gasoline inventories decreased by 1.6 million barrels, or 0.7%, to 230.6 million barrels over that period. The previous week saw gasoline inventories decline by 1 million barrels.
The U.S.' crude oil production by increased 100,000 barrels per day (bpd) to around 12.2 million bpd for the week ending June 28, the EIA data showed. Production is expected to average 12.32 million bpd in 2019 and 13.26 million bpd in 2020, according to the EIA's Short Term Energy Outlook report for June.
(Anadolu Agency)
