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EIA: US crude inventories continue to drop amid higher refinery run ratesEIA: US crude inventories continue to drop amid higher refinery run rates |
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The latest data from the Energy Information Administration (EIA) showed the commercial crude inventories in the US fell 3.3 million barrels in the week ending 19 August despite the large release from the Strategic Reserves, a signal that demand remains steady.
Refineries in the country continued to lift operating rates by 0.3 percentage points to 93.8% during the week even though the driving season is near the end.
Gasoline stocks fell just 27,000 barrels to 215.6 million barrels.
Net US crude imports rose 862,000 barrels per day last week while exports fell to 4.2 million barrels per day after hitting a record high of 5 million barrels per day the week before.
