U.S. crude oil inventories fell more than expected last week, according to data released by the Energy Information Administration (EIA) on Thursday.
Commercial crude oil stocks decreased by 6.9 million barrels, or 0.61%, to 416.1 million barrels for the week ending Sept. 6, the EIA data showed. However, the market expectation was a decline of 2.68 million barrels.
The more than expected drop in U.S. stockpiles pushed oil prices higher on Wednesday.
Strategic petroleum reserves, which are not included in the commercial crude stocks, remained unchanged at 644.8 million barrels last week, according to the data.
Meanwhile, gasoline inventories dropped to 228.9 million barrels, down by 0.7 million barrels, or 0.3%, for the week ending Sept. 6. The previous week saw gasoline inventories fall by 2.4 million barrels.
Crude oil production in the country remained unchanged at around 12.4 million barrels per day for the week ending Sept. 6.
By Gulsen Cagatay