The US Energy Information Administration (EIA) released its weekly report on Wednesday, revealing that crude oil stocks changed by 6.7 million barrels in the week ending June 25. Analysts predicted a decline of 4.6 million barrels.
The impact of this report on crude oil prices does not appear to be significant. For the time of writing, a barrel of West Texas Intermediate was trading at $73.75, up 0.45% on the day.
“During the week ending June 25, 2021, US crude oil refinery inputs averaged 16.3 million barrels per day, up 187,000 barrels per day over the previous week’s average.”
“Last week, US crude oil imports averaged 6.4 million barrels per day, down 0.5 million barrels per day from the week before.”
“Over the last four weeks, total products provided averaged 20.0 million barrels per day, up 13.3 percent from the same period last year.”/nRead More