US crude oil inventories declined by 6% y-o-y as of 18 August

According to the EIA Weekly Petroleum Report, US crude oil inventories declined to 463.2m barrels as of 18 August, down 0.7% w-o-w and down 6% y-o-y. US crude oil production increased to 9.5m barrels per day during the week ending on 18 August, up 0.3% w-o-w and up 11.5% y-o-y.

Gasoline stocks declined to 229.9m barrels as of 18 August, down 0.5% w-o-w and down 1.2% y-o-y.

Source: EIA 

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