US weekly oil stocks decline

- Weekly oil inventories in the U.S. decreased by 1.9 million barrels

Oil inventories decreased in the U.S. on a weekly basis, the U.S.' Energy Information Administration (EIA) data revealed Wednesday. 

Commercial crude oil inventories in the country fell by 1.9 million barrels, or 0.4 percent, to 454 million barrels for the week ending Sept. 18, from 455.9 million barrels for the week ending Sept. 11, EIA said. 

For the same period, strategic petroleum reserves in the country remained unchanged. 

Meanwhile, domestic oil production in the U.S. increased slightly, by 19,000 barrels per day (bpd), reaching 9.14 million bpd, from 9.12 bpd over the same period.

In addition, crude oil imports fell by 13,000 bpd, to reach 7.18 million bpd, from 7.19 million bpd, during the same period. 

EIA expects crude oil production in the country to average 9.4 million bpd this year and fall to 9 million bpd next year, according to its Short-Term Energy Outlook report released on Aug. 11. 

By Ovunc Kutlu

Anadolu Agency

ovunc.kutlu@aa.com.tr