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U.S. crude oil inventories continue to decrease in week to May 11

Xinhua Financein HOUSTON
2018-05-17 11:28

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U.S. crude oil inventories decreased in the week to May 11, and the refining sector increased 149,000 barrels per day, the U.S. Energy Information Administration (EIA) said in a report on Wednesday.

According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 1.4 million barrels during the week ending May 11.

At 432.4 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year.

Total products supplied over the last four-week period averaged about 20.1 million barrels per day, up by 1.5 percent from the same period last year.

Over the last four weeks, motor gasoline product supplied averaged about 9.4 million barrels per day, up by 0.7 percent from the same period last year.

Distillate fuel product supplied averaged about 4.2 million barrels per day over the last four weeks, up by 3.0 percent from the same period last year. Jet fuel product supplied is down 5.6 percent compared to the same four-week period last year.
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