US crude stocks fell by more than five million barrels last week, while fuel stocks increased as refineries are strengthened for production; To meet the high demand and decrease in stocks.
The US Energy Information Administration said today, Wednesday, that crude stocks fell 5. 4 million barrels in the week ending November 11 to 435. 4 million barrels, compared to analysts’ expectations in a Reuters poll, which decreased 440 thousand barrels.
The operations of crude oil refineries revived the last week, up 63,000 barrels per day last week, which led to an increase in the operating rates of refineries 0. 8 percent to 92. 9%.
US gasoline stocks rose 2. 2 million barrels last week to 207. 9 million barrels, compared to expectations of 310,000 barrels.
The distillation products, which include diesel and heating oil, increased 1. 1 million barrels per week to 107. 4 million barrels, compared to expectations of 513 thousand barrels.
Energy Information Administration said that net US imports of crude fell 1. 24 million barrels per day.
Raw stocks at the Kashing Delivery Center, Oklahoma, were 1. 6 million barrels..
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