EIA: Commercial crude oil inventories increased by 4.7 million barrels from previous week

Eren Sengezer FXStreet

In its weekly petroleum report for the week ending May 17, the Energy Information Administration announced that the commercial crude oil inventories in the U.S. increased by 4.7 million barrels.

Key takeaways from the press release

Gasoline production decreased last week, averaging 9.9 million barrels per day.
Distillate fuel production decreased last week, averaging 5.2 million barrels per day.
U.S. crude oil imports averaged 6.9 million barrels per day last week.
Total products supplied over the last four-week period averaged 19.9 million barrels per day, down by 2.7% from the same period last year.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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