The U.S. Energy Information Administration (EIA) revealed on Thursday that crude inventories fell by 3.818 million barrels in the week ended October 9. Economists had forecast a drop of 3.387 million barrels.

At the same time, gasoline stocks decreased by 1.626 million barrels, while analysts had expected a decline of 1.607 million barrels. Distillate stocks tumbled by 7.244 million barrels, while analysts had forecast a drop of 2.096 million barrels.

Meanwhile, oil production in the U.S. plunged by 500,000 barrels a day to 10.500 million barrels a day.

U.S. crude oil imports averaged 5.3 million barrels per day last week, down by 447,000 barrels per day from the previous week.