U.S. crude oil inventories decrease by 6.1 million barrels

U.S. commercial crude oil inventories fell by 6.1 million barrels for the week ending June 19, 2026, bringing total stocks to 412.1 million barrels. This drawdown leaves domestic inventories approximately 7% below the five-year average for this time of year, signaling a tightening supply environment. The data, released by the Energy Information Administration (EIA), highlights a period of high refinery utilization and increased product demand compared to the previous year.

According to the latest weekly storage data from the EIA, U.S. commercial crude oil inventories, excluding the Strategic Petroleum Reserve, saw a significant reduction of 6.1 million barrels. At the current level of 412.1 million barrels, the nation's crude stocks are notably lower than historical norms, trailing the five-year average by 7%. This decrease comes despite a slight reduction in refinery activity, as crude oil refinery inputs averaged 17.1 million barrels per day, a decrease of 81,000 barrels per day from the preceding week's average.

Refineries across the United States operated at 96.1% of their operable capacity during the reporting period, maintaining a high level of throughput to meet seasonal demand. On the trade front, crude oil imports averaged 5.6 million barrels per day last week. Over the past four weeks, crude oil imports averaged about 5.7 million barrels per day, which represents a 4.1% decline compared to the same four-week period last year.

The report also detailed activity in refined products and overall consumption. Total motor gasoline imports, including both finished gasoline and blending components, averaged 647,000 barrels per day, while distillate fuel imports averaged 135,000 barrels per day. Demand remains robust, with the total volume of products supplied over the last four weeks averaging 20.5 million barrels per day, marking a 2.1% increase from the same period in the previous year.