Crude oil futures got a halt to their rally on Wednesday despite data showing supplies of U.S crude oil and gasoline declined more-than-expected, as the Energy Information Agency (EIA) reported that US oil production grew by 46,000 barrels a day (bpd) to 9.55 million barrels a day, not far off the June. 5, 2015 record high of 9.61 million barrels per day, while weekly U.S. crude oil exports rose to an all-time high of 2.13 million barrels per day. 

The report overshadowed a separate report from EIA showing crude and gasoline stockpiles declined more than expected while distillate fell less-than-expected. Inventories of US crude fell by roughly 2.4 million barrels in the week ended Oct. 27. Gasoline inventories fell by 4 million barrels, while supplies of distillate fell by about 320,000 barrels.

Benchmark crude oil futures for December delivery ended lower by 8 cents at $54.30 a barrel on the New York Mercantile Exchange. Brent crude for December delivery weakened by 45 cents to $60.49 a barrel on the ICE.

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