US commercial crude oil inventories increased by 1.1% during the week ending Feb. 18, according to the latest data released by the Energy Information Administration (EIA).
Inventories rose by 4.5 million barrels to 416 million barrels compared to the market expectation of a rise of 767,000 barrels.
Strategic petroleum reserves, which are not included in commercial crude stocks, declined by 2.4 million barrels to 582.4 million barrels last week, the data revealed.
Gasoline inventories also decreased by 0.6 million barrels to 246.5 million barrels over that period.
-Crude production decreases
According to EIA data, US crude oil imports increased by 1.04 million barrels per day (bpd) to around 6.83 million bpd during the week ending Feb. 18, while crude oil exports rose by around 415,000 bpd to around 2.69 million bpd.
US crude oil production, meanwhile, decreased by 3,000 bpd to approximately 12,058 million bpd during the same period.
By Firdevs Yuksel