US commercial crude oil inventories decreased by 0.9% during the week ending July 11, according to data released by the Energy Information Administration (EIA) late Wednesday.
Inventories fell by around 3.9 million barrels to 422.2 million barrels, surpassing market expectations of a 1.8 million-barrel draw.
Strategic petroleum reserves, which are excluded from commercial crude stocks, decreased by 300,000 barrels to 402.7 million barrels, the data revealed.
Over the same period, gasoline inventories rose by around 3.4 million barrels to 232.9 million.
- Crude production falls
EIA data showed that US crude oil production decreased by 10,000 barrels per day (bpd) to about 13.37 million bpd during the week ending July 11.
US crude oil imports increased by 366,000 bpd to approximately 6.38 million bpd, while exports rose by 761,000 bpd to around 3.52 million bpd over the same period.
In the Short-Term Energy Outlook (STEO) released on July 8, the EIA projected that crude oil output in the country would average 13.37 million bpd in 2025.
By Duygu Alhan
Anadolu Agency
energy@aa.com.tr