U.S. Crude Draw was a Million Barrels More than Expected
EIA reports a crude oil draw of 2.4 MMBO Crude oil inventories fell 2.4 MMBO for the week ended December 2, 2016, according to the Energy Information Administration. The decline in crude stocks was more than 1.0 MMBOPD more than analysts anticipated ahead of the report Wednesday. Despite the larger-than-expected draw from crude oil inventories, the report was still bearish,