December 19, 2018
US commercial crude inventories were down by 550,000 barrels for the week ending December 14th, according to the Energy Information Administration in its weekly report on Wednesday.
The news was a surprise to many because the American Petroleum Institute said on Tuesday that oil stockpiles were up by 3.45 million barrels.
The EIA said gasoline stockpiles increased 1.8 million barrels and distillate inventories dropped by 4.2 million barrels.
US crude refinery inputs averaged 17.4 million bpd, with gasoline production on the decrease, averaging 10.3 million bpd.
Distillate fuel production decreased, averaging 5.4 million bpd.