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U.S. Oil Stockpiles Fell By 3.6 Million Barrels Last Week: EIA

Published 12/29/2021, 10:09 AM
Updated 12/29/2021, 10:38 AM
© Reuters.

Investing.com -- U.S. oil stockpiles fell more than expected in the latest week, the Energy Information Administration said on Wednesday.

Crude inventories fell by 3.576 million barrels last week, compared with analysts' expectations for a draw of 3.233 million barrels.

Distillate stockpiles, which include diesel and heating oil, fell by 1.726 million barrels in the week against expectations for a draw of 59,000 barrels, the EIA data showed.

Gasoline inventories fell by 1.459m barrels last week, the EIA said, compared with expectations for a draw of 31,000 barrels.

Latest comments

the shale producers have serious problem when oil falls below $50 a barrel, the cost of production can very from one shale outfit to another and for some the cost can come in as high as 85$ a bl. the amount of debt is a major factor. in that part of the oil industry these american companies are none to carry some of the highest debt loads in the industry. during 2020 the high debt loads drove a significant number of these companies into bankruptcy. many of these companies, are just now returning to production. blaming the biden Administration for high gas prices is a fools journey. the price of unleaded gas would be were it is today no matter who was president. anyone telling you different is a partisan hack.
@85$ the American shale oil producers bring their crude on line.......
is it positive or negetive for stock?
I don't think they are directly correlated in that sense,in my opinion.
🤝
what is impacts on stock price Negative ya positive???
negative
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