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Breaking: Oil Inventories Dropped by 5.5M Barrels Last Week - EIA

Published 27/12/2019, 15:47
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Investing.com – Stockpiles of U.S. crude fell by almost 5.5 million barrels last week, the Energy Information Administration said Friday. That sent prices higher, erasing earlier losses.

  • Oil inventories fell by 5.474 million barrels for the week ended Dec. 20, the EIA said. The market was expecting a drop of about 1.7 million barrels, according to forecasts compiled by Investing.com. The numbers were delayed until Friday due to the Christmas holidays.

  • Gasoline inventories rose by 1.96 million barrels, compared with expectations for a rise of about 1.66 million barrels. Distillate inventories fell by 152,000 barrels, versus forecasts for a build of 800,000 barrels.

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