EIA reported a draw of -754 MBbls in U.S. crude-oil inventories for the week ending 11/20/2020. This was larger than the average estimate of 234 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $45.24, from $45.29 just before 9:30am.
Inventories for the US are now at a surplus of 38.341 MBbls to last year and a surplus of 28.82 MBbls to the five-year average.
