EIA: US crude inventories fell on highest refinery rates, lower imports

The Energy Information Agency (EIA) on Wednesday, 2 March 2022 released a weekly crude inventory report in the US that showed a reduction of 2.6 million barrels in the country’s stocks last week to 413.4 million barrels. 

Refinery around the country ramped up operating rates last week to process 152,000 barrels per day, boosting the utilization rates by 0.3% to 87.7%. 

Net US crude imports fell 2.2 million barrels per day, according to the report.