US crude supplies down by 1.3M bbl - March 24, 2013

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2013

Vol. 18, No. 12

Week of March 24, 2013

US crude supplies down by 1.3M bbl

The United States’ crude oil supplies fell the week ending March 15, the government said March 20.

Crude supplies declined by 1.3 million barrels, or 0.3 percent, to 382.7 million barrels, which is 10.5 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report.

Analysts expected an increase of 2 million barrels for the week ended March 15, according to Platts, the energy information arm of McGraw-Hill Cos.

Gasoline supplies declined by 1.5 million barrels, or 0.7 percent, to 222.8 million barrels. That’s 1.8 percent below year-ago levels. Analysts expected gasoline supplies to shrink by 2.5 million barrels.

Demand for gasoline over the four weeks ended March 15 was 1.5 percent higher than a year earlier, averaging 8.5 million barrels a day.

—Associated Press

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