US crude oil stocks down 900,000 bbl in week ended Fri, exports up, says EIA
This story was originally published at 13:33 IST on 16 April 2026
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MUMBAI – US crude oil inventories, excluding those in the strategic petroleum reserves, fell by 900,000 barrels to 463.8 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had estimated a rise of 900,000 barrels. US crude oil inventories were about 1% above the five-year average for this time of the year, according to the report.
Petrol inventories fell by 6.3 million barrels from the previous week to 232.9 million barrels in the week ended Friday. Analysts polled by Dow Jones had estimated petrol inventories to fall by 1.7 million barrels. Distillate fuel stocks fell by 3.1 million barrels to 111.6 million barrels during the week. Analysts polled by Dow Jones had expected a fall of 2.1 million barrels in distillate stocks. Distillate fuel stocks were around 6% below the five-year average for this time of the year.
According to the report, refinery utilisation fell to 89.6% from 92% the previous week. Crude oil production in the US, the largest producer of the commodity, was unchanged at 13.60 million barrels per day in the week ended Friday.
US crude oil exports rose 1.08 million barrels per day to 5.23 million barrels per day, according to the report. Strategic petroleum reserves fell 4.1 million barrels to 409.2 million barrels during the week.
US crude oil imports averaged 5.3 million barrels per day during the week, down 1.03 million barrels per day from the previous week. Over the past four weeks, US crude oil imports averaged around 6.1 million barrels per day, 1.3% less than the corresponding period last year.
Of the top 10 countries that export crude oil to the US, imports from six countries fell in the week ended Friday. Imports from Canada fell the most, by 751,000 barrels per day to 3.52 million barrels. Imports from Saudi Arabia fell by 340,000 barrels per day to 249,000 barrels per day. On other hand, imports from Colombia rose the most by 130,000 barrels per day, according to the report.
Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, fell 1.7 million barrels to 29.8 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 1308 IST, the most-active May contract of crude oil on the NYMEX was up 0.6% at $91.87 per barrel.
Inventory (mln barrels) | Weekly change (%) | |
Crude oil | 463.8 | (-)0.2 |
Petrol | 232.9 | (-)2.6 |
Kerosene-type jet fuel | 42.5 | (-)1.9 |
Distillate fuel oil | 111.6 | (-)2.7 |
Propane/propylene | 77.9 | 0.4 |
Unfinished oils | 79.7 | (-)0.9 |
Other oils | 286.3 | 0.7 |
End
US$1 = INR 93.27
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Reshma Ravi
Edited by Akul Nishant Akhoury
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