US crude oil inventories surge by 21.6M barrels - EIA

Wednesday, 03. March 2021 16:31

Crude oil inventories in the United States jumped by 21.6 million barrels on a weekly basis to reach 484.6 million barrels in the week ending February 26, marking the sharpest weekly increase on record to miss estimates, the US Energy Information Administration's report showed on Wednesday.

Crude oil imports averaged 6.3 million barrels per day last week, climbing by 1.7 million barrels per day from to the week prior, while gasoline output rose to 8.3 million barrels per day in the same seven-day period.

The crude oil refinery inputs averaged 9.9 million barrels per day in the week ending February 26, down by 2.3 million barrels per day compared to the previous week's average. According to the EIA, refineries operated at 56.0% of their operable capacity in the same period due to production woes caused by freezing weather in Texas.

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Breaking the News / GA