EIA reported a draw of -6065 MBbls in U.S. crude-oil inventories for the week ending 12/25/2020. This was larger than the average estimate of -2449 MBbls as reported by Bloomberg.
Prices were unchanged five minutes following the announcement, to $48.33, from $48.33 just before 9:30am.
Inventories for the US are now at a surplus of 52.11 MBbls to last year and a surplus of 42.30 MBbls to the five-year average.
