U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 1.3 million barrels from the week ending May 9 to the week ending May 16, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report.
That EIA report was released on May 21 and included data for the week ending May 16. It showed that crude oil stocks, not including the SPR, stood at 443.2 million barrels on May 16, 441.8 million barrels on May 9, and 458.8 million barrels on May 17, 2024. The EIA report highlighted that data may not add up to totals due to independent rounding.
Crude oil in the SPR stood at 400.5 million barrels on May 16, 399.7 million barrels on May 9, and 368.8 million barrels on May 17, 2024, the report outlined. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.623 billion barrels on May 16, the report showed. Total petroleum stocks were up 5.8 million barrels week on week and up 4.3 million barrels year on year, the report revealed.
“At 443.2 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA stated in its latest weekly petroleum status report.
“Total motor gasoline inventories increased by 0.8 million barrels from last week and are about two percent below the five year average for this time of year. Both finished gasoline inventories and blending components inventories increased last week,” it added.
“Distillate fuel inventories increased by 0.6 million barrels last week and are about 16 percent below the five year average for this time of year. Propane/propylene inventories increased by 2.7 million barrels from last week and are seven percent below the five year average for this time of year,” it continued.
U.S. crude oil refinery inputs averaged 16.5 million barrels per day during the week ending May 16, 2025, the EIA noted in its report. It pointed out that this was 89,000 barrels per day more than the previous week’s average.
“Refineries operated at 90.7 percent of their operable capacity last week,” the EIA said in the report.
“Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased by 13,000 barrels per day last week, averaging 4.7 million barrels per day,” it added.
U.S. crude oil imports averaged 6.1 million barrels per day last week, the EIA stated in its report. It highlighted that this was an increase of 247,000 barrels per day from the previous week.
“Over the past four weeks, crude oil imports averaged about 5.9 million barrels per day, 13.5 percent less than the same four-week period last year,” the EIA said in the report.
“Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 747,000 barrels per day, and distillate fuel imports averaged 141,000 barrels per day,” it added.
Total products supplied over the last four-week period averaged 19.6 million barrels a day, down by 2.8 percent from the same period last year, the EIA stated in its report.
“Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by one percent from the same period last year,” the EIA added.
“Distillate fuel product supplied averaged 3.6 million barrels a day over the past four weeks, down by 4.2 percent from the same period last year. Jet fuel product supplied was up four percent compared with the same four-week period last year,” it continued.
In a Skandinaviska Enskilda Banken AB (SEB) oil report sent to Rigzone by the SEB team today, Ole R. Hvalbye, a commodities analyst at the company, highlighted that U.S. commercial crude oil inventories, excluding the SPR, rose by 1.3 million barrels last week and stated that “this increase was counter-seasonal – thus putting some pressure on prices”.
“However, the level is still roughly six percent below the five-year seasonal average,” Hvalbye pointed out in the report.
To contact the author, email andreas.exarheas@rigzone.com
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