EIA reported oil stocks fell by 447,000 barrels last week

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The Energy Information Administration said on Wednesday that oil stockpiles in the United States fell significantly less than predicted in the previous week. Last week, crude inventories declined 447,000 barrels, compared to experts’ forecasts of 1.271 million barrels.

The EIA statistics indicated that distillate stockpiles, which include diesel and heating oil, increased by 1.766 million barrels last week, compared to estimates of a drop of 472,000 barrels.

The EIA reported that gasoline stockpiles fell by 1.4 million barrels last week, compared to forecasts of a decrease of 1.657 million barrels.