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U.S. crude stockpiles fall to lowest since January 2020 -EIA

16/09/2021 04:22 PM

U.S. crude stockpiles last week fell to their lowest since January 2020 as imports and production dropped, the Energy Information Administration said on Wednesday.

Crude inventories fell by 4.1 million barrels to 435.6 million barrels in the week to July 23, more than analysts’ expectations in a Reuters poll for a decrease of 2.9 million barrels.

Stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures fell by 1.27 million barrels to 35.4 million barrels, also their lowest since January 2020, EIA said. Inventories in the Midwest overall fell to the lowest level since October 2018.

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