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Crude Stockpile Fell 4.5 Million Barrels Last Week : EIA

Published 12/08/2020, 15:27
Updated 12/08/2020, 15:37
© Reuters.

Investing.com -- Crude stockpiles fell by more than expected, according to the latest report by the Energy Information Administration.

Inventory fell 4.5 million barrels compared to expectations for a draw of 2.9 million barrels for the week ending August 8.

Last week, the government report said crude inventory fell by 7.4 million barrels.

The data follow Tuesday's report from the American Petroleum Institute, which estimated last week's draw to be 4.4 million barrels, beating expectations.

The EIA said oil stored at the Cushing, Oklahoma, facility rose 1.3 million barrels, compared to expectations for a build of 1.7 million barrels.

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