USA Crude Oil Stocks Rise Week on Week

by Andreas Exarheas | Rigzone Staff
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*this article was not written by Roseland Oil & Gas

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.0 million barrels from the week ending June 26 to the week ending July 3.

That’s what the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report, which was released on July 8 and included data for the week ending July 3.

The EIA report showed that crude oil stocks, not including the SPR, stood at 411.4 million barrels on July 3, 408.4 million barrels on June 26, and 426.0 million barrels on July 4, 2025. Crude oil in the SPR stood at 319.5 million barrels on July 3, 325.7 million barrels on June 26, and 403.0 million barrels on July 4, 2025, 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 1.517 billion barrels on July 3, the report showed. Total petroleum stocks were down 10.2 million barrels week on week and down 132.4 million barrels year on year, the report revealed.

“At 411.4 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year,” the EIA said in its weekly petroleum status report.

Crude oil stocks, not including the SPR, stood at 411.4 million barrels on July 3, the EIA’s latest weekly petroleum status report showed.

“Total motor gasoline inventories decreased by 1.9 million barrels from last week and are six percent below the five-year average for this time of year. Both finished gasoline and blending component inventories decreased last week,” it added.

“Distillate fuel inventories decreased by 5.0 million barrels last week and are about 12 percent below the five-year average for this time of year. Propane/propylene inventories decreased by 0.8 million barrels from last week and are 29 percent above the five-year average for this time of year,” it continued.

U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week ending July 3, according to the report, which highlighted that this was 173,000 barrels per day less than the previous week’s average.

“Refineries operated at 95.8 percent of their operable capacity last week,” the EIA said in its report.

“Gasoline production decreased last week, averaging 9.7 million barrels per day. Distillate fuel production decreased, averaging 5.2 million barrels per day,” it added.

The report noted that U.S. crude oil imports averaged 5.6 million barrels per day last week, which it outlined was an increase of 351,000 barrels per day from the previous week.

“Over the past four weeks, crude oil imports averaged about 5.4 million barrels per day, 11.4 percent less than the same four-week period last year,” the EIA said in its report.

“Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 423,000 barrels per day, and distillate fuel imports averaged 87,000 barrels per day,” it added.

Total products supplied over the last four-week period averaged 20.6 million barrels per day, up by 0.3 percent from the same period last year, the EIA stated in its report.

“Over the past four weeks, motor gasoline product supplied averaged 9.0 million barrels per day, down by 2.2 percent from the same period last year,” the EIA added.

“Distillate fuel product supplied averaged 3.8 million barrels per day over the past four weeks, down by 0.9 percent from the same period last year. Jet fuel product supplied was up 4.1 percent compared with the same four-week period last year,” it continued.

In a statement posted on his X page on Thursday analyzing the EIA’s latest weekly petroleum status report, Ole S. Hansen, Saxo Bank’s Head of Commodity Strategy, highlighted that U.S. crude inventories “rose for the first time in 11 weeks, increasing by three million barrels as exports slowed to 3.3 million barrels per day, the lowest since November”.

“A further 6.2 million barrels were drawn from the SPR, while production rose to 13.86 million barrels per day, close to last year’s record high,” he added.

“Distillate inventories, including diesel, slumped by five million barrels to a four-year low, while a 1.9 million-barrel drop in gasoline stocks pushed inventories to their lowest seasonal level since 2012,” he pointed out.

Hansen also highlighted in the statement that U.S. refined-product exports “jumped to a record 8.7 million barrels per day, lifting total oil and fuel exports, including crude, to 12 million barrels per day”.

“U.S. gasoline demand on a four-week average basis, held just below nine million barrels per day and lowest since the Fourth of July holiday in 2022,” he added.

by Andreas Exarheas | Rigzone Staff
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas