05:26 AM EDT, 03/14/2024 (MT Newswires) -- US crude oil inventories fell 1.5 million barrels to 447.0 million barrels week over week, the US Energy Information Administration reported Wednesday.

US crude oil production also edged lower to 13.225 million barrels per day from 13.275 million b/d in the week ended March 8.

Crude imports to the US decreased to 6.438 million b/d from 6.682 million b/d, while exports from the country declined to 4.369 million b/d from 4.669 million b/d week over week.

Total US gasoline stocks also dropped 5.6 million barrels to 234.1 million barrels in the week ended March 8.