US domestic crude oil supplies fell by 4.9 million barrels for the week ended January 5, according to the latest US Energy Information Administration report.
The drop was more than the 3.5 million-barrel decline forecast by analysts surveyed by S&P Global Platts.
Crude oil refinery inputs averaged 17.3 million barrels per day during the period, 285,000 barrels per day less than the previous week’s average. The report said that refineries operated at 95.3% of their operable capacity.
Gasoline production also decreased, averaging 9.5 million barrels per day as did distillate fuel production, averaging 5.3 million barrels per day.
The report said that US crude oil imports averaged about 7.7 million barrels per day last week, down by 308,000 barrels per day from the previous week.
The price of a barrel of Brent crude hit $69.37 on Wednesday, the highest amount since December 2014.