US Oil Stocks Jump Much Higher than Expected

  • Date: 29-May-2020
  • Source: Al Bawaba
  • Sector:Oil & Gas
  • Country:Kuwait
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US Oil Stocks Jump Much Higher than Expected

The US' crude oil imports soared by 2 million barrels per day (bpd) to 7.2 million bpd for the week ending May 22, but crude oil exports declined by 63,000 bpd to 3.17 million bpd, according to the EIA data.. Commercial crude oil inventories rise for first time after two consecutive weeks of decreases. Commercial crude oil inventories in the US increased by 7.9 million barrels, or 1.5%, to 534.4 million barrels for the week ending May 22, the data showed.. With the result, commercial crude oil stocks marked the first weekly increase after two consecutive weeks of declines..