U.S. commercial crude oil inventories decreased by 4.3 million barrels to 452.9 million barrels for the week ending May 8, 2026, according to official data released today by the U.S. Energy Information Administration (EIA). This drop represents the third consecutive week of declining U.S. crude stockpiles, heavily outpacing the average analyst forecast of a 2.3-million-barrel draw.
The reduction follows massive energy sector strain amid heightened geopolitical disruptions. Total U.S. commercial crude inventory now sits roughly 0.3% below the five-year average for this time of year.
Key Weekly Petroleum Statistics
- Commercial Crude Oil Down 4.3M barrels 452.9M barrels 0.3% below 5-year average
- Cushing Hub Stocks Down 1.7M barrels27.4M barrels WTI futures delivery point draw
- Gasoline Inventories Down 4.1M barrels215.7M barrels13th consecutive week of draws
- Distillate Fuel Stocks Up 190,000 barrels102.5M barrels Running 9% below 5-year average.
Supply, Demand, and Refined Products
- Domestic Production: U.S. crude production climbed by 137,000 barrels per day to 13.7 million barrels per day.
- Refinery Operations: Operational capacity rose 1.6 percentage points to 91.7% as inputs increased to 16.4 million barrels per day.
- Gasoline Market: Motor gasoline inventories fell faster than the expected 2.6-million-barrel drop, keeping stockpiles 5% below historical seasonal averages.
- Trade Flows: Crude oil imports rose by 424,000 barrels per day to 5.9 million barrels per day, while crude exports surged by 742,000 barrels per day to 5.5 million barrels per day.
Alternative Private Metrics
The American Petroleum Institute (API), a private industry trade group, published its weekly inventory estimates yesterday. The API metrics also signaled tightening conditions, reporting a 2.19-million-barrel drawdown for commercial crude oil alongside a 320,000-barrel decline in distillates.
If you would like, I can track how these inventory drawdowns are affecting WTI and Brent crude oil futures prices, check specific regional inventory breakdowns (PADD districts), or compare these figures to Strategic Petroleum Reserve (SPR) release rates. Let me know how you want to proceed.
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