By Anthony Harrup
U.S. crude oil inventories fell last week as exports increased and refineries ran at a higher rate, according to data released Wednesday by the U.S. Energy Information Administration.
Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 3.4 million barrels to 424.2 million barrels in the week ended Nov. 14 and were about 5% below the five-year average for the time of year, the EIA said. Crude stocks were expected to have risen by 100,000 barrels, according to a Wall Street Journal survey of analysts.
Oil stored in the SPR increased by 533,000 barrels to 410.9 million barrels. Oil stocks at Cushing, Okla., the Nymex delivery hub, were down by 698,000 barrels at 21.8 million barrels.
The EIA estimated U.S. crude oil production at 13.8 million barrels a day, down by 28,000 barrels a day from the previous week. Crude oil imports rose by 729,000 barrels a day to 6 million barrels a day, and exports increased by 1.3 million barrels a day to 4.2 million barrels a day.
Refineries ran at 90% of capacity, up from 89.4% the previous week, with crude input to refineries up by 258,000 barrels a day at 16.2 million barrels a day. Refinery runs were forecast to have risen to 90.2% in the Journal survey.
Gasoline stocks rose by 2.3 million barrels to 207.4 million barrels, a first increase in seven weeks, and were 3% below the five-year average. Gasoline stocks were expected to be down by 100,000 barrels. Gasoline demand fell by 500,000 barrels a day to 8.5 million barrels a day.
Distillate fuel stocks were up by 171,000 barrels at 111.1 million barrels, and were 7% below the five-year average. Distillate inventories were forecast to have fallen by 1.5 million barrels.
Change in U.S. oil inventories for the week ended Nov. 14:
Crude Gasoline Distillates Refinery Use
EIA data: -3.4 2.3 0.2 0.6
Forecast: 0.1 -0.1 -1.5 0.8
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
November 19, 2025 11:09 ET (16:09 GMT)
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