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Informist, Friday, Sept. 5, 2025

MUMBAI – Crude oil inventories in the US, excluding those in the country's strategic petroleum reserves, rose by 2.4 million barrels from the previous week to 420.7 million barrels in the week ended Aug. 29, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had expected a fall of 2 million barrels. US crude oil inventories were about 4% below the five-year average for this time of the year, the report said.

Petroleum inventories fell by 3.8 million barrels from the previous week to 218.5 million per barrels in the week ended Aug. 29. Petrol stocks were about 2% below the five-year average for this time of year. Analysts polled by Dow Jones had estimated a 1.3-million-barrel fall in stocks. Distillate fuel inventories rose by 1.7 million barrels to 115.9 million barrels in the week ended Aug. 29. This rise is against the 1.1-million-barrel fall expected by analysts in Dow Jones polls. The distillate fuel inventories were about 13% below the five-year average for this time of year, the report said.

Refinery utilisation fell slightly to 94.3% in the week ended Aug. 29 from 94.6% the previous week. Crude oil production in the US, the largest producer of the commodity, fell 16,000 barrels per day to 13.42 million barrels per day in the week ended Aug. 29.

US crude oil imports averaged 6.7 million barrels per day in the week ended Aug. 29, down 508,000 barrels per day from the previous week. Over the past four weeks, crude oil imports have averaged around 6.6 million barrels per day, up 4.4% from the corresponding period last year.

Imports from six countries of the top 10 countries that export crude oil to the US rose during the week. Imports from Columbia rose the most, by 184,000 barrels per day to 321,000 barrels per day. Imports from Iraq rose by 141,000 barrels per day to 303,000 barrels per day. On other hand, imports from Libya fell to nil and imports from Brazil fell by 65,000 barrels per day to 278,000 barrels per day.

Crude oil exports by the US rose 74,000 barrels per day to 3.9 million barrels per day in the week ended Aug. 29. The strategic petroleum reserves rose 500,000 barrels to 404.7 million barrels for the week ended Aug. 29.

Inventories of crude oil at Cushing in Oklahoma, a key delivery point for West Texas Intermediate crude, rose 1.6 million barrels to 24.2 million barrels in the week ended Aug. 29. 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 1248 IST, the most-active October contract of crude oil on NYMEX was down 0.5% at $63.17 per barrel.

End

US$1 = INR 88.32

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

Reported by Udita S. Jaiswal

Edited by Akul Nishant Akhoury

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