Oil reserves in U.S. continued to fall
2022.12.21 12:49
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Oil reserves in U.S. continued to fall
Budrigannews.com – The Energy Information Administration, or EIA, released data on Wednesday showing that crude oil inventories in the United States decreased by more than three times the levels predicted for the previous week.
The EIA reported in its Weekly Petroleum Status Report for the week ending December 16 that the draw was 5.894 million barrels, which was lower than the expected draw of 1.657 million barrels. The government-controlled U.S. Strategic Petroleum Reserve decreased by 3.7 million to reach 378.6 million, its lowest level since December 1983. The agency reported an inventory build of 10.231 million in the week leading up to December 9.
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Compared to a predicted build of 2.14 million barrels, stockpiles increased by 2.53 million. Last week, gasoline stocks increased by 4.496 million barrels, compared to expectations for a decrease of 0.242 million barrels. Stockpiles of gasoline increased by 1.364 million the week before.
