EIA: U.S. Oil Inventories Down 7.2 Barrels in a Week

Crude oil inventories in the United States decreased by 7.2 million barrels in the week ending August 27, according to official figures released on Wednesday by the U.S. Energy Information Administration (EIA).

Commenting on the data, “business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented levels to meet increasing demand,” noted Timothy R. Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee.