U.S. Oil Inventories Dropped by 3.1 Million Barrels Last Week: EIA

By Liz Moyer

Investing.com — U.S. crude oil inventories unexpectedly dropped last week, according to the Energy Information Administration.

dropped by 3.115 million barrels, against expectations for a build of 0.367 million barrels, the EIA reported.

The EIA also reported that stockpiles rose by 0.427 million barrels last week. The expectation had been for a draw of 0.56 million barrels.

inventories, meanwhile, dropped by 1.257 million barrels, against expectations for a draw of 1.358 million barrels, the EIA said.

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