Energy Preview: US Crude Inventories Slip By 800000 Barrels
Nov 26, 2020 09:01 AM | Source: capitalmarket.com
The US Energy Information Administration reported a crude oil inventory draw of 800,000 barrels for the week to November 20. A week earlier, the EIA estimated a crude oil stock draw of 800,000 barrels as well.
In gasoline, the EIA reported an inventory increase of 2.2 million barrels for the week to November 20, compared with a build of 2.6 million barrels for the previous week. Gasoline production averaged 8.9 million bpd, compared with 9.1 million bpd for the previous week.
In distillate fuels, the authority reported an inventory draw of 1.4 million barrels for last week, which compared with a drop of 5.2 million barrels for the previous week. Distillate fuel production last week averaged 4.6 million bpd, compared with 4.3 million bpd a week earlier.
Refineries processed 14.3 million bpd of crude oil last week, up on the week before, when processing rates averaged 13.8 million bpd.