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US Crude Refinery Throughputs Rise To Record High; Crude Stocks Fall Further

Oil

US crude oil refinery throughputs increased by 166K b/d w-o-w to a record high of 17.57M b/d in the week ending 4 August, data from the US Energy Information Administration (EIA) shows.

In the same week, US crude inventories dropped by 6.45M bbls to 475.44M bbls, the lowest since October 2016. US crude stocks have now registered weekly declines for the last 6 consecutive weeks; falling by a combined 33.78M bbls during this period.