Industry Weekly Report: US API Crude Oil Inventories Decreased by Over 600,000 Barrels Last Week

American Petroleum Institute (API) data shows that last week, U.S. API crude oil inventories decreased by 609,000 barrels, compared to an increase of 13.4 million barrels the previous week. Last week, API Cushing crude oil inventories decreased by 1.367 million barrels, compared to a previous increase of 1.4 million barrels. API refined product gasoline inventories decreased by 312,000 barrels (previously +3.3 million barrels), and distillate inventories decreased by 1.567 million barrels (previously -2 million barrels).

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