US commercial crude oil inventories decreased by 1.1% during the week ending Oct. 13, according to data released by the Energy Information Administration (EIA) on Thursday.
Inventories fell by around 4.5 million barrels to 419.7 million barrels, compared to the American Petroleum Institute's expectation of a fall of around 4.4 million barrels.
Strategic petroleum reserves, which are excluded from commercial crude stocks, remained unchanged at 351.3 million barrels last week, the data revealed.
Meanwhile, gasoline inventories declined by about 2.4 million barrels to 223.3 million barrels over the same period.
- Crude production falls
EIA data showed that US crude oil production decreased by 1,000 barrels per day (bpd) to around 13.6 million bpd during the week ending Oct. 13.
US crude oil imports also fell by 387,000 bpd to about 5.94 million bpd over the same period, while crude oil exports surged by 2.23 million bpd to approximately 5.3 million bpd.
In the Short-Term Energy Outlook (STEO) released on Oct. 11, the EIA predicted that crude oil output in the country would reach an average of 12.92 million bpd this year.
Next year, crude oil output in the country is expected to reach 13.12 million bpd.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr