The U.S. Energy Information Administration (EIA) reported on Wednesday
that crude inventories decreased by
1.961 million barrels in the week
ended January 10, following a drop of 0.959 million barrels in the previous
week. Overall, this was the eighth straight weekly fall in the U.S. crude inventories. Economists had predicted a draw of 1.600
million barrels.
At the same
time, gasoline stocks climbed by 5.852 million barrels., recording the ninth consecutive weekly build.
Analysts had foreseen a gain of 2.600 million barrels. The previous week recorded
a surge of 6.330 million barrels.
Elsewhere,
distillate stocks increased by 3.077 million barrels, recording the third successive weekly advance. Analysts had forecast a rise of 1.100 million
barrels. The previous week registered a jump of 6.071 million barrels.
Meanwhile, oil
production in the U.S. reduced by 82,000 barrels a day to 13.481 million
barrels per day.
U.S. crude oil
imports averaged 6.1 million barrels per day last week,
logging a decline of 304,000 barrels per day from the week before.