US weekly EIA commercial crude oil inventories decline by 8.557 million barrels

On Oct. 16, based on Jin10 data, the U.S. EIA report for the week ending Oct. 9 showed that commercial crude oil inventories excluding strategic reserves decreased by 8.557 million barrels to 416 million barrels, a drop of 2.02%; strategic petroleum reserve (SPR) inventories remained unchanged at 283 million barrels.

For the same week, U.S. crude oil exports fell by 195,000 barrels per day to 4.57 million barrels per day; commercial crude oil imports excluding strategic reserves stood at 6.049 million barrels per day, down 791,000 barrels per day from the previous week; and U.S. domestic crude oil production decreased by 300,000 barrels to 13.679 million barrels per day.

Additionally, the U.S. four-week average total supply of petroleum products stood at 21.077 million barrels per day, up 1.97% year over year.