Commodities May 20, 2026 10:41 AM

U.S. crude inventories fall 7.9 million barrels, EIA shows

Draw at Cushing and lower refinery runs contrast with rising distillate stocks

By Sofia Navarro

The U.S. Energy Information Administration reported a 7.9 million-barrel decline in crude oil inventories to 445.0 million barrels for the week ended May 15. The drawdown outpaced market expectations and coincided with lower refinery runs, a drop in gasoline stocks and a modest increase in distillates.

U.S. crude inventories fall 7.9 million barrels, EIA shows

Key Points

  • U.S. crude inventories fell 7.9 million barrels to 445.0 million barrels for the week ended May 15, a larger draw than analysts expected.
  • Refinery activity eased: crude runs were down 80,000 barrels per day and utilization dipped to 91.6%; gasoline stocks declined, suggesting ongoing motor fuel demand.
  • Distillate inventories rose by 0.4 million barrels to 102.9 million barrels, contrary to forecasts for a 1.1 million-barrel draw; net crude imports ticked up by 3,000 bpd.

The U.S. Energy Information Administration (EIA) reported that crude oil inventories fell by 7.9 million barrels in the week ending May 15, leaving total U.S. crude stockpiles at 445.0 million barrels. The reduction was larger than the 2.9 million-barrel decrease expected in a Reuters poll of analysts.

Key storage at the Cushing, Oklahoma delivery hub saw a decline, with stocks there falling by 1.6 million barrels during the same reporting week. At the same time, net U.S. crude imports edged higher by 3,000 barrels per day.

Refinery activity eased over the period. Refinery crude runs decreased by 80,000 barrels per day and refinery utilization rates fell by 0.1 percentage points to 91.6%.

Refined product inventories moved unevenly. U.S. gasoline stocks decreased by 1.5 million barrels to 214.2 million barrels, a change the EIA noted as reflecting continued demand for motor fuel. By contrast, distillate fuel inventories - which include diesel and heating oil - rose by 0.4 million barrels to reach 102.9 million barrels. That increase ran counter to expectations, where analysts had forecast a 1.1 million-barrel draw.

The weekly EIA release therefore showed a larger-than-expected crude draw alongside lower refinery throughput and mixed movements in product inventories. Gasoline fell, indicating sustained motor fuel consumption, while distillates recorded a modest build despite forecasts pointing to a decline.

The data points reported by the EIA for the week ending May 15 are limited to the figures released and to the comparisons cited by market analysts. The agency's numbers provide the latest official snapshot of U.S. petroleum stocks, refinery use and import flows for that reporting period.


Data recap

  • Crude inventories: down 7.9 million barrels to 445.0 million barrels
  • Cushing stocks: down 1.6 million barrels
  • Net crude imports: up 3,000 barrels per day
  • Refinery runs: down 80,000 barrels per day
  • Refinery utilization: down 0.1 percentage points to 91.6%
  • Gasoline stocks: down 1.5 million barrels to 214.2 million barrels
  • Distillate stocks: up 0.4 million barrels to 102.9 million barrels (vs. an expected 1.1 million-barrel drop)

Risks

  • Volatility in refinery utilization and crude runs could affect downstream fuel supply dynamics and refinery economics.
  • The unexpected build in distillate stocks versus forecasts introduces uncertainty for diesel and heating oil markets and related price signals.
  • A larger-than-expected crude draw may prompt revisions to near-term supply expectations, which can influence energy-sector investment and trading positions.

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