US commercial crude oil inventories fell by 0.2% in the week ending Oct. 17, according to data from the Energy Information Administration (EIA) released late Wednesday.
Stocks decreased by about 1 million barrels to 422.8 million, defying market expectations for a 2.2 million barrel build.
Strategic petroleum reserves, excluded from commercial inventories, rose by 800,000 barrels to 408.6 million.
Gasoline inventories declined, falling 2.1 million barrels to 216.7 million.
- Crude production slightly lower
EIA data showed that US average crude oil production edged down by 7,000 barrels per day (bpd) to around 13.62 million bpd during the same week.
Imports increased by 393,000 bpd to about 5.91 million bpd, while exports decreased by 263,000 bpd to roughly 4.20 million bpd.
In its Short-Term Energy Outlook (STEO) released on Oct. 10, the EIA projected that US crude oil output would average 13.53 million bpd in 2025.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr