U.S. Crude Oil Inventories Fell 7.863M Barrels for Week Ending May 15, Well Below 2.942M Expected Decline

According to Gate data, U.S. crude oil inventories fell 7.863 million barrels in the week ending May 15, significantly below consensus expectations of a 2.942 million barrel decline and prior week's 4.306 million barrel drop. In the same period, crude oil stocks at Cushing, Oklahoma declined 1.604 million barrels.
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