The U.S. Department of Energy (DoE) reported on Wednesday (18), that oil inventories in the country rose 769,000 barrels, to 489.475 million barrels, in the week ended November 13. Despite the growth, the figure was below analysts' estimates heard by the Wall Street Journal, which predicted a rise of 1.2 million barrels in the period.
In relation to gasoline, inventories rose 2.611 million barrels to 227.967 million barrels, compared with the expectation of a fall of 300,000 barrels. Distillate stocks fell 5.216 million barrels to 144.073 million barrels, compared with a drop of 1.7 million barrels.
The rate of use of refineries rose from 74.5% to 77.4%, compared to a forecast of a rise of 75.0%. Oil inventories in Cushing rose 1.2 million barrels to 61.613 million barrels. Average daily production rose from 10.5 million the previous week to 10.9 million barrels.