U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories fell by 7.2 million barrels in the week to July 21, compared with analysts’ expectations for a decrease of 2.6 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.7 million barrels, EIA said.
Refinery crude runs rose by 166,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.3 percentage points.
Gasoline stocks fell by 1 million barrels, compared with analyst expectations in a Reuters poll for a 614,000-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 453,000-barrel drop, the EIA data showed.
U.S. crude imports fell last week by 254,000 barrels per day.
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Dean Popplewell
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