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U.S. Oil Stockpiles Rose 4.5 Million Barrels Last Week: EIA -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — According to the Energy Information Administration, U.S. oil stocks rose faster than anticipated in the last week.

The increase in crude oil production was 4.515 million barrels, which is compared to analysts’ estimates of an increase of 0.42 million barrels. Due to a U.S. Market Holiday, the data were not released on time.

According to the EIA, stockpiles including diesel and fell by 0.585m barrels during the week against the expectations of a draw in excess of 1.763million barrels.

The EIA reported that inventories decreased by 0.52 million barrels last Wednesday, which is lower than the 1.450m barrels expected.

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