Crude Inventories
US crude oil stocks down 1.9 mln bbl in wk ended Fri, exports down says EIA
This story was originally published at 16:01 IST on 1 January 2026
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MUMBAI – US crude oil inventories, excluding those in strategic petroleum reserves, fell by 1.9 million barrels to 422.9 million barrels in the week ended Friday, the US Energy Information Administration said in a weekly report. Analysts at Dow Jones had expected a weekly increase of 100,000 barrels. US crude oil inventories were about 3% below the five-year average for this time of the year, according to the report.
Petrol inventories rose by 5.8 million barrels from the previous week to 234.3 million barrels in the week ended Friday. Analysts polled by Dow Jones had expected a 300,000-barrel increase in petrol inventories. Distillate fuel stocks rose by 5.0 million barrels to 123.7 million barrels during the week. Analysts polled by Dow Jones expected an 800,000-barrel rise in distillate stocks. Distillate fuel stocks were around 4% below the five-year average for this time of the year.
According to the report, refinery utilisation rose to 94.7% from 94.6% the previous week. Crude oil production in the US, the largest producer of the commodity, rose by 2,000 barrels per day to 13.83 million barrels per day in the week ended Friday.
US crude oil exports fell by 176,000 barrels per day to 3.44 million barrels per day, according to the report. Strategic petroleum reserves rose by 200,000 barrels to 413.2 million barrels during the week.
US crude oil imports averaged 5.0 million barrels per day in the week, down 1.1 million barrels per day from the previous week. Over the past four weeks, US crude oil imports averaged around 6.0 million barrels per day, 7.2% lower than the corresponding period last year.
Of the top 10 countries that export crude oil to the US, imports from eight countries fell in the week ended Friday. Imports from Canada fell the most, by 793,000 barrels per day to 3.18 barrels per day. On the other hand, imports from Iraq rose the most, by 175,000 barrels per day to 357,000 barrels per day, according to the report.
Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, rose by 500,000 barrels to 22.1 million barrels in the week ended Friday. Cushing is the designated delivery point for NYMEX crude oil futures. Market participants closely monitor stockpiles in Cushing, which has a storage capacity of about 90 million barrels.
The most-active February contract of crude oil on the NYMEX closed at $57.42 per barrel on Wednesday, down 0.9% from the previous close. Crude oil prices on the NYMEX on Thursday were unavailable because the exchange was closed for New Year's Day. Trading will resume on Friday.
|
Inventory (mln barrels) |
Weekly change (%) |
|
|
Crude oil |
422.9 | (-)0.5 |
|
Petrol |
234.3 | 2.6 |
|
Kerosene-type jet fuel |
44.0 | (-)2.0 |
|
Distillate fuel oil |
123.7 | 4.2 |
|
Propane/propylene |
100.3 | 0.8 |
|
Unfinished oils |
80.2 | (-)2.1 |
|
Other oils |
314.6 | 0.3 |
End
US$1 = INR 89.96
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Reshma Ravi
Edited by Saji George Titus
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