The U.S. Energy
Information Administration (EIA) revealed on Wednesday that crude inventories fell
by 6.644 million barrels in the week ended February 5. Economists had forecast
a build of 0.985 million barrels.
At the same
time, gasoline stocks surged by 4.259 million barrels, while analysts had
expected a build of 1.814 million barrels. Distillate stocks decreased 1.731
million barrels, while analysts had forecast a drop of 0.790 million barrels.
Meanwhile, oil
production in the U.S. rose by 100,000 barrels a day to 11.000 million barrels
a day.
U.S. crude oil
imports averaged 5.9 million barrels per day last week, decreased by 0.7
million barrels per day from the previous week.