The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories fell by 4.689 million barrels in the week ended August 21. Economists had forecast a decrease of 3.694 million barrels.

At the same time, gasoline stocks dropped by 4.584 million barrels, while analysts had expected a decline of 1.533 million barrels. Distillate stocks rose by 1.388 million barrels, while analysts had forecast a drop of 0.726 million barrels.

Meanwhile, oil production in the U.S. increased by 100,000 barrels a day to 10.800 million barrels a day.

U.S. crude oil imports averaged 5.9 million barrels per day last week, up by 185,000 barrels per day from the previous week.