Huge Crude Draw Offsets Product Builds ...Middle East

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw yet another large draw, this time of 9.3 million barrels in the week ending December 12. Crude oil inventories shrank by 4.8 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of just 9.2 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR)…

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