A day after the American Petroleum Institute’s weekly inventory estimate slowed down the price decline in West Texas Intermediate, the Energy Information Administration dampened optimism by reporting a build of 4.9 million barrels in U.S. crude oil inventories for the week to November 16. This followed an inventory build of 10.3 million barrels for the prior week, which added weight to already falling prices on the back of rising production and global economic growth skepticism. The authority also said refinery run rates last week averaged 92.7 percent, with throughput at 16.9 million barrels daily, up from last week, and gasoline production at 10 million bpd. Distillate fuel production averaged 5.2 million bpd. This compares with 10.1 million bpd in gasoline production a week earlier and 5 million bpd in distillate fuel production. Gasoline inventories brought some joy for oil bulls. They fell by 1.3 million barrels last week but […]