US Crude Oil Inventories Resume Drawdown

2026-09-01 21:00 By Isabela Couto 1 min. read

US crude oil inventories fell by 2.6 million barrels in the week ending August 28th, according to the American Petroleum Institute (API), following a 4.2 million-barrel increase in the previous week.

Commercial crude inventories excluding the SPR have declined by just over 48 million barrels over the past 20 weeks, while total US crude inventories are up 3.1 million barrels year-to-date.

Another 3.1 million barrels left the SPR, bringing total reserves to 286.6 million barrels, within the generally accepted operational minimum of 250-300 million barrels.

US crude production rose to 13.843 million bpd in the week ending August 21st from 13.830 million bpd, up 461,000 bpd year-on-year.

Meanwhile, gasoline inventories increased by 300,000 barrels after falling 3.2 million barrels the previous week, while distillate stocks declined by 300,000 barrels following a 500,000-barrel draw.

Cushing inventories rose by 200,000 barrels after increasing by 1 million barrels previously.



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US Crude Oil Inventories Resume Drawdown
US crude oil inventories fell by 2.6 million barrels in the week ending August 28th, according to the American Petroleum Institute (API), following a 4.2 million-barrel increase in the previous week. Commercial crude inventories excluding the SPR have declined by just over 48 million barrels over the past 20 weeks, while total US crude inventories are up 3.1 million barrels year-to-date. Another 3.1 million barrels left the SPR, bringing total reserves to 286.6 million barrels, within the generally accepted operational minimum of 250-300 million barrels. US crude production rose to 13.843 million bpd in the week ending August 21st from 13.830 million bpd, up 461,000 bpd year-on-year. Meanwhile, gasoline inventories increased by 300,000 barrels after falling 3.2 million barrels the previous week, while distillate stocks declined by 300,000 barrels following a 500,000-barrel draw. Cushing inventories rose by 200,000 barrels after increasing by 1 million barrels previously.
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