U.S. crude stocks fell sharply last week as refineries cut output, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration (EIA) showed on Sept. 21.
Crude inventories fell by 6.2 million barrels (MMbbl) in the week to Sept. 16, compared with analysts' expectations for an increase of 3.4 MMbbl.
Crude stocks at the Cushing, Okla., delivery hub rose by 526,000 bbl, EIA said.
Refinery crude runs fell by 143,000 bbl/d, EIA data showed. Refinery utilization rates fell by 0.9 percentage points.
Gasoline stocks fell by 3.2 MMbbl, compared with analysts' expectations in a Reuters poll for a 567,000 bbl drop.
Distillate stockpiles, which include diesel and heating oil, rose by 2.2 MMbbl, vs. expectations for a 250,000 bbl increase, the EIA data showed.
U.S. crude imports rose last week by 77,000 bbl/d.
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