U.S. crude stocks rise unexpectedly as refineries cut output

August 24, 2016 2:34 PM

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U.S. crude stocks rise unexpectedly as refineries cut output

U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate stocks rose modestly, the U.S. Energy Information Administration said on Wednesday.

Crude inventories USOILC=ECI rose by 2.5 million barrels in the last week, compared with expectations for a decrease of 455,000 barrels.

Also read: U.S. crude output for 2018 to rise by 300,000 bpd: EIA

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