Energy Preview: US crude stock falls by $4.3 million barrels; gasoline inventories rise, says EIA

Crude oil inventories in the United States fell by 4.3 million barrels during the week ending May 30, according to new data from the U.S. Energy Information Administration released on Wednesday. On Tuesday, the American Petroleum Institute (API) reported a drop of 3.3 million barrels in U.S. crude oil inventories, with a sizable build in gasoline stocks. For total motor gasoline, the EIA estimated that inventories increased by 5.2 million barrels for the week to May 30, even with daily production decreasing to an average 9 million barrels, from 9.8 million barrels in the week prior. For middle distillates, the EIA estimated an increase of 4.2 million barrels, with production increasing to 5 million barrels daily.

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