US crude stocks, which had reached a record level the previous week, stood at 533.5 million barrels as of June 26, down 7.2 million.
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Crude oil reserves in the United States fell 7.2 million barrels last week, far exceeding market forecasts, according to a weekly report from the United States Energy Information Agency (EIA) released Wednesday .
US crude stocks, which had reached a record level the previous week, stood at 533.5 million barrels as of June 26.
Analysts had predicted a decline of 500,000 barrels, far from the EIA figures.
“The number of refined barrels, above 14 million for the first time since the end of March, as well as the fall in imports and exports now staying above 3 million barrels per day, led to the heaviest fall crude stocks for the current year, “notes Matt Smith of ClipperData.
American refineries operated at 75.5% of their capacity, up 0.9% from the previous week.
For their part, total imports of crude oil to the United States went from 6.54 million barrels per day (mbd) to 5.97 mbd. Exports decreased very slightly, from 3.16 mbd to 3.09 mbd.
Gasoline inventories rose 1.2 million barrels, where analysts expected a decline of 1.5 million barrels.
Those of distilled products (heating oil and diesel) fell by 600,000 barrels, while analysts forecast an increase of 500,000 barrels.
US oil production has stabilized at 11 mbd.
As for energy demand, it increased compared to the previous week, Americans having consumed on average 17.6 mbd in the last four weeks. It is however 15.6% less than the same period last year.
Slightly higher before the report’s release, the price of a barrel of WTI for delivery in August accentuated its gains, amounting to 1.2% at 39.74 dollars around 4:00 p.m. GMT.
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