Oil Rises On Large Crude Draw

Crude oil prices rose higher after the Energy Information Administration reported an inventory draw of 5.5 million barrels for the week to December 20 in its last weekly petroleum status report for 2019. At 441.4 million barrels, inventories were some 2 percent above the seasonal average, the EIA said. The authority also reported average refining rates of 17 million bpd for last week, which compared with 16.6 million bpd a week earlier. Gasoline production averaged 10.3 million bpd and distillate fuels production stood at 5.4 million bpd. These…