WASHINGTON (Dow Jones) – Crude oil inventories in the US expanded significantly in the week of May 1, as in previous weeks, but at a slower pace. According to the state Energy Information Administration (EIA), they rose by 4.59 million barrels compared to the previous week. Analysts interviewed by Dow Jones Newswires had predicted a 7.4 million barrel increase. In the previous week, inventories increased by 8.991 million barrels.
In the data published by the private American Petroleum Institute (API) the previous day, a more significant increase was registered at 8.4 million barrels.
By contrast, gasoline inventories declined by 3.158 million barrels, according to EIA data. Analysts had expected gains of 0.2 million barrels after inventories fell by 3,669 million the previous week. API data showed a 2.2 million barrel drop.
Oil production in the US at 11,900 million barrels a day was 0,200 million lower than in the previous week. Compared to the same period in the previous year, there was a decline of 0.300 million barrels.
Website: http://www.eia.gov/petroleum/supply/weekly/
Contact the author: [email protected]
DJG / DJN / smh / cln
(END) Dow Jones Newswires
May 06, 2020 10:52 am (14:52 GMT)
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