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US Oil Inventories Down 7.4 M Barrels in Week

M. Ali 5 August, 2020 7:46 pm Breaking News, Commodities, Market Update

Crude oil inventories in the United Stated declined for the second consecutive week, according to data by the US Energy Information Administration (EIA).

Oil stockpiles decreased by 7.4 million barrels last week, exceeding market estimates, to a total of 518.6 million barrels.

Yesterday, data by the American Petroleum Institute (API) reported an 8.6 million-barrel decrease in the US oil inventories.

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