Energy Preview: US crude oil industries fall by 8 million barrels, EIA data shows

Crude oil inventories in the United States decreased by 8.0 million barrels during the week ending May 29, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 433.7 million barrels, according to government data, which is now 3% below the five-year average for this time of year. For total motor gasoline, the EIA reported that inventories had increased by 3.4 million barrels after sinking by 2.6 million barrels in the week prior. The most recent figures showed that average daily gasoline production decreased to 9.4 million barrels.

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