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Informist, Thursday, Aug. 28, 2025

 

MUMBAI – Crude oil inventories in the US, excluding those in the country's strategic petroleum reserves, fell 2.4 million barrels to 418.3 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had expected a fall of 1.9 million barrels. US crude oil inventories were about 6?low the five-year average for this time of year, the report said.

 

Petrol inventories fell 1.2 million barrels from the previous week to 222.3 million barrels in the week ended Friday. Petrol stocks were at the same level as the five-year average for this time of year. Analysts polled by Dow Jones had expected a fall of 1.7 million barrels. Distillate fuel stocks fell 1.8 million barrels on week to 114.2 million barrels in the week ended Friday, against the rise of 900,000 barrels expected in the Dow Jones poll. The distillate fuel stocks were around 15% below the five-year average for this time of year, the report said.

 

Refinery utilisation fell to 94.6% from 96.6% the previous week. Crude oil production in the US, the largest producer of the commodity, rose 57,000 barrels per day to 13.44 million barrels per day in the week ended Friday.

 

US crude oil imports averaged 6.2 million barrels per day in the week ended Friday, down 263,000 barrels per day from the previous week. Over the past four weeks, crude oil imports have averaged around 6.4 million barrels per day, down 0.4% from the corresponding period last year.

 

Imports from seven of the top 10 countries that export crude oil to the US rose during the week. Imports from Libya rose the most, by 195,000 barrels per day to 280,000 barrels per day. Imports from Brazil rose 162,000 barrels per day to 343,000 barrels per day. On the other hand, imports from Iraq fell the most, by 166,000 barrels per day, to 162,000 barrels per day.

 

Crude oil exports by the US fell 562,000 barrels per day to 3.8 million barrels per day for the week ended Friday. The strategic petroleum reserves rose 800,000 barrels to 404.2 million barrels during the week.

 

Inventories in crude oil at Cushihng in Oklahoma, a key delivery point for West Texas Intermediate crude, fell 800,000 barrels to 22.6 million barrels in the week ended Friday. Cushing is the designated delivery point for NYMEX crude oil futures contracts. Market participants closely monitor stockpiles at Cushing, as it has a storage capacity of about 90 million barrels. 

 

At 1500 IST, the most-active October contract of crude oil on NYMEX was down 0.5% at $63.82 per barrel.

 

	Inventory (mln barrels)	Weekly change (%)
Crude oil	418.3	(-)0.6
Petrol	222.3	(-)0.6
Kerosene-type jet fuel	43.6	0.7
Distillate fuel oil	114.2	(-)1.5
Propane/propylene	93.0	1.9
Unfinished oils	79.0	(-)1.1
Other oils	324.6	(-)0.4

 

End

US$1 = INR 87.67

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

 

Reported by Udita S. Jaiswal

Edited by Rajeev Pai

 

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