©Reuters. Crude oil storage tanks in Cushing, Oklahoma, USA (Photo Reuters).
(Reuters) – The US Energy Information Administration said on Thursday that US inventories and distillate production rose, while gasoline inventories fell.
Oil inventories rose by 718,000 barrels in the week ending Dec. 23 to 419 million barrels, while analysts in a Reuters poll expected a decline of 1.5 million barrels.
Crude inventories at the Cushing, Oklahoma delivery center fell by 195,000 barrels last week, according to the Energy Information Administration.
The administration said crude oil refining operations increased by 173,000 barrels a day in the past week. Refinery (TADAWUL:) operating rates increased by 1.1 percentage points.
He added that U.S. gasoline inventories fell by 3.1 million barrels last week to 223 million barrels, compared with analysts’ expectations in a Reuters poll for an increase of 500,000 barrels.
Distillate inventories, which include diesel and heating oil, rose by 300,000 barrels in the same week to 120.2 million barrels, versus expectations for a decline of two million barrels, according to administration data.
The administration said net U.S. imports of crude oil increased by 1.33 million barrels a day.
(Prepared by Rehab Alaa for the Arab Bulletin – Edited by Mustafa Saleh)
