US crude oil inventories saw their largest decline since July in the week ended Jan. 1 on the back of strong exports and rising refinery demand, US Energy Information Administration data showed Jan. 6. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Commercial crude stocks moved 8.01 million barrels lower to 485.46 million barrels last week, narrowing the nationwide surplus to the five-year average to 9.3% from 10.3% the week prior. Crude stocks declined in all regions outside of the NYMEX delivery point of Cushing, Oklahoma, where inventories climbed 790,000 barrels to 59.2 million barrels. On the US Gulf Coast, crude stocks declined 6.23 million barrels to an eight-week low 258.63 million barrels. The crude draw comes as US exports edged up to a […]