US crude stocks fall more than expected | newsletter

WASHINGTON (Dow Jones) – US crude oil inventories fell for the week ending March 25. It is down 3.449 million barrels from the previous week, according to the state Energy Information Administration (EIA). Analysts polled by Dow Jones Newswires had expected a decline of 1.7 million barrels. Inventories fell by 2.508 million barrels last week. In the data published the day before by the American Petroleum Institute (API), a decrease of 3 million barrels was recorded.

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Gasoline stocks rose 0.785 million barrels, according to the Energy Information Administration. Analysts had expected a drop of 1.9 million barrels after inventories fell by 2.948 million barrels in the previous week. API data showed a drop of 1.4 million barrels.

US oil production for the week was 11.7 million barrels per day, up 0.1 million from the previous week. Compared to the same period last year, there was an increase of 0.6 million barrels.