EIA: Crude stocks rise unexpectedly, product inventories down
(Reuters) -- US crude stocks rose last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories rose by 2.3 million barrels in the week to Dec. 16, compared with analysts' expectations for a decrease of 2.5 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 245,000 barrels, EIA said.
Refinery crude runs rose by 184,000 bpd, EIA data showed. Refinery utilization rates rose by 1 percentage points.
Gasoline stocks fell by 1.3 million barrels, compared with analyst expectations in a Reuters poll for a 1.4 million-barrel gain.
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 1.2 million-barrel drop, the data showed.
US crude imports rose last week by 1.039 MMbpd.
Reporting By David Gaffen
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