More Stories

Informist, Friday, May 29, 2026

MUMBAI – US crude oil inventories, excluding those in the strategic petroleum reserves, fell 3.3 million barrels to 441.7 million barrels in the week ended May 22, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had estimated a fall of 4 million barrels. The crude oil inventories are about 2% below the five-year average for this time of year, according to the report. 

Petrol inventories fell 2.6 million barrels from the previous week to 211.6 million barrels in the week ended May 22. Analysts polled by Dow Jones had estimated petrol inventories to fall by 2.2 million barrels. Distillate fuel stocks fell 2.1 million barrels to 100.8 million barrels. Analysts polled by Dow Jones had expected a fall of 1.1 million barrels in distillate stocks. Distillate fuels are about 11% below the five-year average for this time of the year.     

According to the report, refinery utilisation rose to 94.5% from 91.6% the previous week. Crude oil production in the US, the largest producer of the commodity, rose 13,000 barrels per day to 13.72 million barrels per day in the week ended May 22.     

US crude oil imports averaged 5.21 million barrels per day during the week, down 804,000 barrels per day from the previous week. Over the past four weeks, US crude oil imports averaged around 5.7 million barrels per day, 7.1% less than the corresponding period last year.

US crude oil exports fell 1.16 million barrels per day to 4.44 million barrels per day, according to the report. Strategic petroleum reserves fell 9.1 million barrels to 365.1 million barrels during the week.

Of the top 10 countries that export crude oil to the US, imports from five fell in the week ended May 22. Imports from Venezuela fell the most, by 299,000 barrels per day to 414,000 barrels. Imports from Mexico fell by 238,000 barrels per day to 145,000 barrels. On the other hand, imports from Colombia rose the most, by 56,000 barrels per day to 211,000 barrels per day, according to the report.

Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, fell 2.8 million barrels to 23 million barrels in the week ended May 22. 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.

At 0803 IST, the most-active July contract of crude oil on the NYMEX was down 1% at $87.90 per barrel.

End

US$1 = INR 95.55

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Reshma Ravi

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.