Why US Crude Oil Stocks fell lower than expected
Crude oil stocks in the United States declined by 0.917 million barrels in the week ended June 17th, 2016, following a 0.933 million fall in the previous week and compared to market expectations of a 1.67 million drop. It is the fifth straight decline in oil inventories. Meanwhile, gasoline stocks rose by 0.627 million barrels after falling by 2.625 million barrels in the previous week. Crude Oil Stocks Change in the United States averaged 0.10 BBL/1Million from 1982 until 2016, reaching an all time high of 12.49 BBL/1Million in April of 1985 and a record low of -15.22 BBL/1Million in January of 1999. Crude Oil Stocks Change in the United States is reported by the U.S. Energy Information Administration.