The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories surged by 15.189 million barrels in the week ended December 4. This was the largest increase since the week ended April 10. Economists had forecast a decline of 1.424 million barrels.

At the same time, gasoline stocks climbed by 4.222 million barrels, while analysts had expected a gain of 2.271 million barrels. Distillate stocks jumped by 5.222 million barrels, while analysts had forecast an increase of 1.414 million barrels.

Meanwhile, oil production in the U.S. remained unchanged at 11.100 million barrels a day.

U.S. crude oil imports averaged 6.5 million barrels per day last week, increased by 1.1 million barrels per day from the previous week.