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EIA: US crude inventories fell as refineries ramped up operating ratesEIA: US crude inventories fell as refineries ramped up operating rates |
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The Energy Information Administration released the latest report that showed 3.7 million barrels dropped in the US commercial crude inventory last week, as refineries in the country continued to ramp up operating rates.
The refinery utilization rate rose 1% during the week to 93.9%. In some parts of the country, utilization rates were at record highs as refiners attempt to meet the demand.
As a result, gasoline stocks rose 3.1 million barrels while diesel stockpiles added 1.7 million barrels, easing concerns over the state of supply ahead of the winter.
