US oil stocks fall by 7.9 million barrels, DoE shows

Oil inventories in the United States fell 7.974 million barrels to 433.712 million barrels in the week ending May 29, the Department of Energy (DoE) reported this Wednesday (3). Analysts consulted by The Wall Street Journal projected a drop of 3.3 million in the period.

Gasoline stocks rose 3.364 million barrels, to 214.955 million barrels, compared to expectations of a drop of 600 thousand. Distillate stocks increased by 1.502 million barrels, to 102.301 million barrels, compared to a projected drop of 800 thousand.

The refinery capacity utilization rate rose from 94.5% to 94.7%, below the projected increase to 94.8%.

Oil stocks at the Cushing distribution center fell by 583 thousand barrels, to 22.441 million barrels. Average daily oil production fell to 13.707 million barrels for the week.

*Source: Dow Jones Newswires

**Content translated with the help of Artificial Intelligence, reviewed and edited by the Broadcast editorial team, Grupo Estado's real-time news system

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Source: CNN