US crude oil stocks dn 8 mln bbl in week ended Fri, exports up, says EIA
This story was originally published at 11:10 IST on 4 June 2026
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MUMBAI – Inventories of crude oil in the US, excluding stocks in the strategic petroleum reserve, fell 8.0 million barrels to 433.7 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Current crude oil inventories are about 3% below the five-year average for this time of year, the report showed.
Inventories of petrol rose by 3.4 million barrels from last week to 215.0 million barrels in the week ended Friday. Distillate fuel stocks also were up 1.5 million barrels at 102.3 million barrels. Distillate fuels are about 3% below the five-year average for this time of the year, according to the report.
Refinery utilisation rose slightly to 94.7% from 94.5% in the previous week, the report showed. Crude oil production in the US, the largest producer of the commodity, fell by 8,000 barrels per day to 13.71 million barrels per day in the week ended Friday.
US crude oil imports averaged nearly 6.40 million barrels per day during the week, up by 1.19 million barrels per day from last week, according to the report. Over the past four weeks, US crude oil imports averaged around 5.9 million barrels per day, 4.5% less than the corresponding period last year.
US crude oil exports rose by 1.43 million barrels per day to 5.87 million barrels per day, the report showed. Strategic petroleum reserves fell to 357.1 million barrels, down by 8.0 million barrels from the previous week.
Of the top 10 countries that export crude oil to the US, imports from two fell in the week ended friday. Imports from Canada fell the most, by 152,000 barrels per day to 3.68 million barrels. Imports from Colombia also fell by 44,000 barrels per day to 167,000 barrels. Imports of crude oil from Saudi Arabia rose the most, by 283,000 barrels per day to 283,000 barrels per day, according to the report.
Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, fell 600,000 barrels to 22.4 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.
At 1040 IST, the most-active July contract of crude oil on the NYMEX was down 0.7% at $95.32 per barrel.
Inventory (mln barrels) | Weekly change (%) | |
Crude oil | 433.7 | (-)1.8 |
Petrol | 215.0 | 1.6 |
Kerosene-type jet fuel | 45.4 | 1.0 |
Distillate fuel oil | 102.3 | 1.5 |
Propane/propylene | 83.3 | 2.6 |
Unfinished oils | 78.2 | (-)2.3 |
Other oils | 289.7 | (-)0.8 |
End
US$1 = INR 96.60
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Shreya Shetty
Edited by Akul Nishant Akhoury
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