The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories tumbled by 7.355 million barrels in the week ended June 11, following a decline of 5.241 million barrels in the previous week. Economists had forecast a draw of 3.290 million barrels.

At the same time, gasoline stocks rose by 1.954 million barrels, while analysts had expected a fall of 0.614 million barrels. Distillate stocks dropped by 1.023 million barrels, while analysts had forecast an increase of 0.186 million barrels.

Meanwhile, oil production in the U.S. grew by 200,000 barrels a day to 11,200 million barrels a day.

U.S. crude oil imports averaged 6.7 million barrels per day last week, up by 108,000 barrels per day from the previous week.