U.S. crude oil, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday.
Crude inventories fell by 2.2 million barrels to 420.6 million barrels in the week ended Oct. 11, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.8 million-barrel rise.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 108,000 barrels in the week.
Crude production rose by 100,000 barrels per day (bpd) in the week to a record 13.5 million bpd, while net U.S. crude imports fell by 1.04 million bpd, and weekly crude exports rose by 329,000 bpd to 4.12 million bpd.
U.S. crude futures and Brent crude futures extended gains after the surprise inventory draw.
Refinery crude runs rose by 165,000 bpd and refinery utilization rates rose by 1 percentage point in the week, to 87.7%.
Gasoline stocks fell by 2.2 million barrels in the week to 212.7 million barrels, the EIA said, compared with analysts’ expectations for a 1.5 million-barrel draw.
U.S. gasoline futures reversed losses after the data.
Distillate stockpiles, which include diesel and heating oil, fell by 3.5 million barrels in the week to 115 million barrels, versus expectations for a 2.2 million-barrel drop, the EIA data showed.
U.S. heating oil futures extended their gains after the data.
(Reporting by Georgina McCartney in Houston Editing by Marguerita Choy)