EIA: US crude inventories fell as refineries ramped up production

The Energy Information Administration on Wednesday, 31 March released data that showed a larger than expected crude inventory digestion of 876,000 barrels in the US by the week ending 26 March 2021, halting the five weeks of increasing streak. 

Refinery utilization rates have improved another 2.3% from the previous week to 83.9%, signaling the continued recovery from the winter storm that took place in mid of February.

Net US crude import fell last week by 170,000 barrels per day.