U.S. crude oil inventories decrease last week

Source: Xinhua | 2019-05-31

U.S. crude oil inventories decreased during the week ending May 24, the U.S. Energy Information Administration (EIA) said in a report on Thursday.
According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 0.3 million barrels from the previous week.
At 476.5 million barrels, U.S. crude oil inventories were about 5 percent above the five-year average for this time of year.
According to the EIA, total motor gasoline inventories increased by 2.2 million barrels last week and were about 1 percent above the five-year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week.
Distillate fuel inventories decreased by 1.6 million barrels last week and were about 5 percent below the five-year average for this time of year. Propane/propylene inventories decreased by 100,000 barrels last week and were about 17 percent above the five-year average for this time of year. Total commercial petroleum inventories decreased last week by 1.6 million barrels last week.