The U.S. Energy Information Administration (EIA) reported a second weekly decline in U.S. commercial crude stocks through Oct. 23, as exports and production rose in the latest measure of oil supply.
Stocks ended the week at 410.625 million barrels, down 1.892 million from the previous week. The drop followed a 3.061 million-barrel reduction in the week ended Oct. 16, covered in EconoTimes’ earlier report on the inventory decline.
Crude exports averaged 4.854 million barrels per day after rising by 1.412 million barrels per day. Domestic production climbed by 723,000 barrels per day to 13.992 million.
Gasoline inventories added 3.870 million barrels to reach 209.180 million barrels, while distillate stocks fell by 1.462 million to 102.824 million. At Cushing, Oklahoma, crude stocks declined by 624,000 barrels to 26.970 million.
The 410.625 million-barrel figure covers commercial crude holdings; lease stocks are omitted, and the Strategic Petroleum Reserve is accounted for separately. EIA published the weekly figures at 10:30 a.m. ET (14:30 UTC) on Oct. 28.
