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U.S. 4-week oil product supplied rises to record high – EIA – Metro US

U.S. 4-week oil product supplied rises to record high – EIA

FILE PHOTO: Oil rigs in a storage facility wait to
FILE PHOTO: Oil rigs in a storage facility wait to be transported to the oil field in Midland

(Reuters) – U.S. oil product supplied over the past four weeks rose to a record high at 21.9 million barrels per day (bpd), according to the U.S. Energy Information Administration’s (EIA) petroleum status report on Wednesday.

The EIA said crude inventories fell by 4.8 million barrels in the week to Feb. 4 to 410.4 million barrels, their lowest for commercial inventories since October 2018. Crude stocks in the Strategic Petroleum Reserve (SPR) dropped to their lowest since October 2002.

(Reporting by Scott DiSavino; Editing by Marguerita Choy)

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