Crude Surges After Surprise Inventory Draw, Biggest Production Decline Since 2013

Tyler Durden
By Tyler Durden of Zero Hedge
Writer at ZeroHedge •

Total US crude production slumped over 1.5% last week - the biggest decline since October 2013.

Total US crude production slumped over 1.5% last week - the biggest decline since October 2013.

 

Add to that a considerable inventory draw of over 4.2mm barrels (against expectations of a build)...

 

and crude prices are surging.

 

Charts: Bloomberg

 

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