US crude stocks rise by 3.1mn bl: EIA

OREANDA-NEWS. October 12, 2015. US crude stocks increased last week by 3.1mn bl to 461mn bl, amid a drop in refinery runs and an increase in production, according to the latest data from the Energy Information Administration (EIA).

Stocks had increased by 4mn bl in the previous week.

US refiners processed about 15.6mn b/d, down by 403,000 b/d from the previous week.

Imports last week fell by 486,000 b/d to 7.1mn b/d. Over the last four weeks, crude imports averaged more than 7.2mn b/d, or 3.3pc below the same period last year, the EIA said.

Total US production increased by 76,000 b/d to about 9.2mn b/d. Production in the Lower 48 states rose by 58,000 b/d while output in Alaska increased by 18,000 b/d.