Oil inventories dropped by 4 million barrels during the week ended September 2, 2011 according to the weekly petroleum status report from the EIA. The September 7 report also states that gasoline inventories were higher by 200,000 barrels and inventories of distillate fuels increased by 700,000 barrels.
Refinery utilization was 89%, down 0.2% from the previous week.
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