U.S. Crude Oil, Product Stockpiles Likely Decreased Last Week, Analysts Say

U.S. crude oil and product stockpiles likely fell last week, according to ten analysts polled by Reuters.

The extended Reuters poll suggested that, on average, crude inventories fell by around 1.4 million barrels between Sept. 13–20.

Following the poll, the American Petroleum Institute and the Energy Information Administration released their own reports on crude inventories for the week prior. 

EIA said that crude inventories dropped by 1.6 million barrels to 417.5 million barrels as of Sept. 13. Analysts in a previous Reuters poll had reportedly expected a 500,000-barrel draw.

Furthermore, analysts surveyed by Reuters estimate that gasoline stockpiles fell by 20,000 barrels last week, and have expected a 1.6 million barrel decrease for distillate inventories.