The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories fell by 0.282 million barrels in the week ended May 24. Economists had forecast a decrease of 1.360 million barrels.

At the same time, gasoline stocks surged by 2.204 million barrels, while analysts had expected a drop of 0.800 million barrels. Distillate stocks declined by 1.615 million barrels, while analysts had forecast an increase of 0.750 million barrels.

Meanwhile, oil production in the U.S. increased by 100,000 barrels a day to 12.300 million barrels a day.

U.S. crude oil imports averaged 6.9 million barrels per day last week, down by 81,000 barrels per day from the previous week.