US commercial crude oil inventories decreased by 0.7% in the week ending Oct. 2, according to data released by the Energy Information Administration (EIA) on Wednesday.
Inventories fell by about 3.2 million barrels to 424.1 million barrels, while market expectations forecast an increase of around 1.9 million barrels.
However, strategic petroleum reserves, excluded from commercial crude stocks, decreased by about 800,000 barrels to 283 million barrels.
Over the same period, gasoline inventories also rose by approximately 400,000 barrels to 204.7 million barrels.
- Crude output up
EIA data showed that US crude oil production rose by 24,000 barrels per day (bpd) to approximately 13.98 million bpd in the week ending Oct. 2.
US crude oil imports increased by around 1.14 million bpd to 6.84 million bpd and exports increased by about 1.19 million bpd to 4.77 million bpd over the same period.
In EIA's Short-Term Energy Outlook (STEO) released on Oct. 7, US crude oil production is expected to average 13.87 million bpd this year and 14.30 million bpd next year.
By Ebru Sengul Cevrioglu
Anadolu Agency
energy@aa.com.tr
