The USA Energy Information Administration (EIA) announced that commercial crude oil stocks in the country decreased by 400,000 barrels, corresponding to 0.1 percent, to approximately 426 million 500 thousand barrels last week.
The market expectation was that inventories would increase by 2 million 200 thousand barrels. Inventories decreased far below expectations.
STRATEGIC CRUDE OIL STOCKS DECREASE 1.7 MILLION BARREL
Strategic crude oil stocks, which are not included in commercial crude oil stocks, decreased by 0.3 percent, by 1 million 700 thousand barrels, to 615 million 300 thousand barrels.
In the said period, the gasoline stocks of the USA decreased to 217 million 700 thousand barrels with a decrease of 5 million 400 thousand barrels, 2.4 percent.
The USA's crude oil imports decreased by an average of 169 thousand barrels per day compared to the previous week and reached approximately 5 million 825 thousand barrels, while exports increased by an average of 546 thousand barrels per day to 3 million 60 thousand barrels.
The country's daily crude oil production, on the other hand, decreased by 122 thousand barrels in the week of October 9-15 and amounted to approximately 11 million 731 thousand barrels.
The closest barrel price of Brent crude turned negative after hitting the highest level since October 2018 during the session. Brent fell 0.1 percent to $85.71. US light crude rose 0.1 percent to $83.47.
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