EIA: US crude inventories fall by 8.0 million barrels

Total commercial petroleum inventories were down by 2.4 million barrels.
Meanwhile, crude oil imports averaged 5.4 million barrels per day last week, up by 43,000 barrels compared to the previous week. Gasoline production increased last week, averaging 8.0 million barrels per day.
Crude oil refinery inputs averaged 14.4 million barrels per day during the same week, 89,000 barrels per day more than the previous week’s average. Finally, the EIA said that refineries operated at 80.7 percent of their operable capacity in the same period.
Crude oil inventories in the United States declined by 1.66 million barrels in the week ending January 1, the American Petroleum Institute (API) reportedly said in its weekly report on Tuesday. During the same period, crude reserves in Cushing, Oklahoma, increased by 1 million barrels.
The US distillate inventories soared by 7.14 million barrels over the seven-day period, while gasoline stockpiles gained 5.47 million barrels.