US Crude Oil Stocks Draw
Crude oil prices have been on a rally since the beginning of December as OPEC and Russia agreed on deeper cuts in production and the agreement of Phase One of the US-China trade deal. The crude oil stocks draw added to the bullish price sentiment.
The DOE reported Total Crude Oil Inventories decreased by 1.1 million barrels to 446.8 million barrels for the week ending December 13, 2019, while the expectations average was for a 1.3 million barrel draw.
- Total Crude Oil Inventories decreased by 1.1 million barrels to 446.8 million barrels
- Total hydrocarbon supplies decreased by 900,000 barrels to 1,280 million barrels.
- Crude Oil Production was unchanged at 12.8 million barrels per day.
- Total Crude Imports decreased by 300,000 barrels per day to 6.6 million barrels per day.
- Total Crude Exports increased by 233,000 barrels per day to 3.6 million barrels per day.
- Total Refinery Crude Runs were unchanged at 16.56 million barrels per day.