EIA: Commercial crude oil inventories decreased by 0.3 million barrels from previous week

In its weekly petroleum report for the week ending May 24, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the U.S. decreased by 0.3 million barrels from the previous week.

Key takeaways from the press release

• Gasoline production decreased last week, averaging 9.9 million barrels per day.
• Distillate fuel production decreased last week, averaging 5.2 million barrels per day.
• U.S. crude oil imports averaged 6.9 million barrels per day last week, down by 81,000 barrels per day from the previous week. 
• Total products supplied over the last four-week period averaged 20.3 million barrels per day, down by 2.0% from the same period last year.