© Archyde.com. Crude oil storage tanks in Cushing, Oklahoma, USA (Archyde.com Photo).
(Archyde.com) – The US Energy Information Administration said on Thursday that US inventories and distillate output rose, while gasoline stocks fell.
Oil stocks rose by 718 thousand barrels in the week ending December 23 to 419 million barrels, while analysts in a Archyde.com poll expected a decline of 1.5 million barrels.
Crude inventories at the delivery center in Cushing, Oklahoma, fell by 195,000 barrels last week, according to the Energy Information Administration.
The administration reported that crude refinery operations rose by 173 thousand barrels per day in the past week. Refinery operating rates (TADAWUL:) increased 1.1 percentage points.
It added that US gasoline inventories fell by 3.1 million barrels last week to 223 million barrels, compared to analysts’ expectations in a Archyde.com poll, for an increase of 500 thousand barrels.
According to the administration’s data, distillate stocks, which include diesel and heating oil, rose by 300,000 barrels in the same week to 120.2 million barrels, compared to expectations for a decrease of two million barrels.
The administration said net US imports of crude increased by 1.33 million barrels per day.
(Prepared by Rehab Alaa for the Arabic Bulletin – Edited by Mustafa Saleh)