U.S. crude oil inventories, when measured together with the Strategic Petroleum Reserve (SPR), dropped by more than 15 million barrels during the week ending June 19, according to Energy Information Administration data released on Wednesday. The combined total fell to 743.3 million barrels, a level the EIA identified as the lowest since October 1984.
The EIA also reported that crude oil stocks excluding the SPR fell to their lowest point since January 2025. The agency's weekly balance shows pronounced reductions both in headline national stockpiles and in several key regional storage points.
At the Cushing, Oklahoma hub - the delivery point for U.S. crude futures contracts - inventories decreased to roughly 19 million barrels for the week, the EIA said. That quantity represents the lowest recorded at Cushing since October 2014.
Midwest crude reserves similarly fell to a multi-year low, with the EIA noting that stocks in that region reached their lowest level since November 2014. The data therefore show broadly distributed declines across major storage centers.
Refining and distillate inventories on the East Coast were also affected. The EIA reported that East Coast distillate fuel oil stocks fell to the lowest level since May 2022. In parallel, East Coast refinery utilization eased to its lowest point since April 2025, according to the agency's numbers.
These weekly EIA figures present a snapshot of U.S. crude and product storage positions and regional refining activity for the reported period. The data released by the agency document the inventory draws and utilization changes cited above for the week ending June 19.
Clear summary
For the week ending June 19, U.S. crude inventories including the SPR fell by more than 15 million barrels to 743.3 million barrels - the lowest combined level since October 1984. Excluding the SPR, crude stocks hit their lowest level since January 2025. Regional storage at the Cushing hub and in the Midwest reached lows last seen in October 2014 and November 2014, respectively. East Coast distillate stocks fell to their lowest since May 2022 and East Coast refinery utilization declined to its lowest since April 2025.