US Crude Inventories Fall More Than Expected

2026-10-20 21:09 By Isabela Couto 1 min. read

US crude oil inventories fell by 4.93 million barrels in the week ending October 16th, well above market expectations for a 1.3 million-barrel draw.

This followed an 11.12 million-barrel decline in the previous week.

Gasoline inventories fell by 2 million barrels, while distillate stocks dropped by 2.6 million barrels.

Meanwhile, inventories at Cushing, Oklahoma, kept at the delivery hub for the WTI Crude futures contract, rose by 900,000 barrels, following an increase of 1.823 million barrels in the prior week.

US oil production slipped to 13.679 million barrels per day in the week ending October 9th, down from 13.979 million barrels per day a week earlier.



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US Crude Inventories Fall More Than Expected
US crude oil inventories fell by 4.93 million barrels in the week ending October 16th, well above market expectations for a 1.3 million-barrel draw. This followed an 11.12 million-barrel decline in the previous week. Gasoline inventories fell by 2 million barrels, while distillate stocks dropped by 2.6 million barrels. Meanwhile, inventories at Cushing, Oklahoma, kept at the delivery hub for the WTI Crude futures contract, rose by 900,000 barrels, following an increase of 1.823 million barrels in the prior week. US oil production slipped to 13.679 million barrels per day in the week ending October 9th, down from 13.979 million barrels per day a week earlier.
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US Crude Inventories Post Largest Draw Since January
US crude oil inventories fell by 11.12 million barrels in the week ending October 9th, far exceeding expectations for a 1.9 million-barrel increase and marking the largest draw since late January. In the previous week, crude stocks fell by 2.09 million barrels. Meanwhile, Cushing inventories rose by 1.82 million barrels, following an increase of 866,000 barrels in the prior week. Gasoline inventories increased by 1.1 million barrels in the week ending October 7th, while distillate stocks fell by 1.5 million barrels. US crude oil production rose to 13.98 million barrels per day in the week ending October 2nd, up from 13.95 million bpd a week earlier.
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US Crude Inventories Fall 2.09 Million Barrels
US crude oil inventories fell by 2.09 million barrels in the week ending October 2, after rising 1.019 million barrels in the previous week. Cushing inventories rose by 866,000 barrels. Gasoline inventories fell by 1.37 million barrels after rising 2.991 million barrels the previous week, while distillate inventories increased by 461,000 barrels following a 286,000-barrel decline. US oil production rose to 13.955 million bpd in the week ending September 25, from 13.939 million bpd a week earlier. Meanwhile, another 800,000 barrels were released from the Strategic Petroleum Reserve (SPR), bringing total holdings to 283 million barrels. The generally accepted operational minimum for the SPR is between 250 million and 300 million barrels.
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