US commercial crude oil inventories decreased by 0.1% during the week ending Oct. 25, according to data released by the Energy Information Administration (EIA) late Wednesday.
Inventories fell by around 500,000 barrels to 425.5 million barrels, against the market prediction of 1.5 million barrels rise.
Strategic petroleum reserves, which are excluded from commercial crude stocks, increased by approximately 1.2 million barrels to 385.8 million barrels last week, the data revealed.
Over the same period, gasoline inventories declined by around 2.7 million barrels to 210.9 million barrels.
- Crude production slightly rises
EIA data showed that US crude oil production increased by 9,000 barrels per day (bpd) to about 13.94 million bpd during the week ending Oct. 25.
US crude oil imports decreased by 456,000 bpd to approximately 5.98 million bpd while exports rose by 149,000 bpd to around 4.26 million bpd over the same period.
In the Short-Term Energy Outlook (STEO) released on Oct. 9, the EIA predicted that crude oil output in the country would reach an average of 13.22 million bpd this year.
Next year, crude oil output in the country is expected to reach 13.54 million bpd.
By Firdevs Yuksel
Anadolu Agency
energy@aa.com.tr