US Energy Information Administration data Wednesday showed that a reduction in US crude oil imports and an increase in refinery utilization pulled more crude out of storage during the latest reporting week, according to S&P Global Platts.
US commercial crude oil inventories declined 4.053 million barrels to 526.573 million barrels.
Imports fell by 884,000 b/d to 7.56 million b/d in the week ended June 24, while refinery utilization rose 1.7 percentage points to 93 per cent of operable capacity.
