Crude Inventory Fell 3.06 Million Barrels Last Week - EIA

Crude Inventory -3.06M Barrels vs -324KM Expected

For the week ending October 16, 2026, U.S. refineries processed 16.6 million barrels per day (b/d), up 34,000 b/d from the previous week, at 93.4% capacity utilization. Gasoline output averaged 9.8 million b/d, and distillate production increased to 5.2 million b/d.

Crude oil imports decreased 291,000 b/d to 5.8 million b/d, although the four-week average of 6.1 million b/d is 2.8% above the year-ago level. Gasoline imports averaged 281,000 b/d; distillate imports averaged 117,000 b/d.

Commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased 3.1 million barrels to 412.5 million barrels, 3% below the five-year average. Gasoline inventories decreased 3.0 million barrels, 5% below the five-year average. Distillate inventories increased 1.7 million barrels, 9% below the five-year average. Propane/propylene inventories decreased 0.5 million barrels, 13% above the five-year average. Total commercial petroleum inventories decreased by 8.5 million barrels for the week.

Over the past four weeks, total product supplied averaged 21.1 million b/d, up 3.2% year over year. The four-week average for gasoline product supplied increased 1.5% year over year to 8.7 million b/d, while the four-week average for distillate product supplied decreased 2.4% to 3.9 million b/d. The four-week average for jet fuel product supplied increased 1.4% year over year.

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