US Commercial Crude Oil Inventories Drop Last Week

US commercial crude oil inventories drop last week

WASHINGTON, Sept. 21 (Xinhua) — US commercial crude oil inventories declined slightly last week but gasoline stockpiles posted an increase, Energy Department reported Wednesday in its weekly survey.

Data showed that in the week ending Sept. 16, the country’s commercial crude oil inventories dropped by 300,000 barrels to 308. 1 million, surprising analysts who had been expecting a rise for the week.

However, gasoline supplies rose by 3.4 million barrels to 195.4 million last week. Reserve of distillates, including heating oil and diesel fuel, also increased 800,000 barrels to 134.1 million.

A parallel survey by the private American Petroleum Institute found that the country’s commercial crude inventories fell by 158, 000 barrels last week to 305.076 million.

It also found that gasoline supplies rose by 2.089 million barrels to 200.563 million and distillate fuel reserve increased by 3.229 million barrels to 133.056 million last week.

The figures for commercial crude oil inventories do not include the US Strategic Petroleum Reserve, which currently holds crude oil of about 700 million barrels.