By Srinivas Chowdary Sunkara // petrobazaar // 30th Dec, 2018.
The Energy Information Administration (EIA) released its official weekly inventory data report on Friday for the week ended 21st Dec, 2018. This report is in contrast with the API estimations of 6.92M build in crude stocks.The Government agency weekly data showed that the U.S crude oil inventories are down by 46000 barrels in the week to Dec. 21 smaller than estimated drawings of 2.9Mb by analysts polled by Reuters. The gasoline stocks were built up by 3Mb while distillates stock numbers were unchanged which is indicating the softening of product demand. The crude production was ramped up by 100M while crude oil inputs into refineries came down while refineries utilization is moderated due to no change in operating capacity from earlier week. The stocks at major U.S storage hub, Cushing are flat.
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