The U.S. Energy Information Administration (EIA) revealed on Friday that crude inventories plunged by 7.258 million barrels in the week ended February 12. Economists had forecast a draw of 2.429 million barrels.

At the same time, gasoline stocks rose by 0.672 million barrels, while analysts had expected an advance of 1.397 million barrels. Distillate stocks declined by 3.422 million barrels, while analysts had forecast a decrease of 1.571 million barrels.

Meanwhile, oil production in the U.S. fell by 200,000 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 41,000 barrels per day from the previous week.