India, Oct. 21 -- The Energy Information Administration released a report on Wednesday showing an extended slump in U.S. crude oil inventories in the week ended October 16th.
The report said crude oil inventories fell by 3.1 million barrels last week after tumbling by 8.6 million barrels in the previous week. Economists had expected crude oil inventories to dip by 0.8 million barrels.
At 412.5 million barrels, U.S. crude oil inventories are 3 percent below the five-year average for this time of year, the EIA said.
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