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EIA: US Crude Oil Inventories Crashing, But Holding Above Average
Crude oil inventories in the United States decreased by 6.2 million barrels during the week ending April 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday.
Summary
Crude oil inventories in the United States decreased by 6.2 million barrels during the week ending April 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 459.5 million barrels according to government data, which is still 1% above the five-year average for this time of year, despite a flurry of weekly losses.
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