SEATTLE (Oil Monster): U.S. commercial crude oil inventories decreased by 2.3 million barrels during the week ending May 1, 2026, according to the latest weekly petroleum storage report published by the U.S. Energy Information Administration.
Excluding the Strategic Petroleum Reserve, total crude oil inventories stood at 457.2 million barrels, remaining about 1% above the five-year average for this time of year. The decline came as refinery activity strengthened across the country, reflecting steady fuel demand and increased processing rates.
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U.S. crude oil refinery inputs averaged 16 million barrels per day during the reported week, an increase of 42,000 barrels per day from the prior week. Refinery utilization rates also improved, reaching 90.1% of operable capacity.
Gasoline production averaged 9.6 million barrels per day, while distillate fuel production fell slightly to 4.9 million barrels per day. U.S. crude oil imports dropped by 273,000 barrels per day to 5.5 million barrels daily.
Motor gasoline inventories declined by 2.5 million barrels and remained roughly 4% below the five-year seasonal average. Distillate fuel inventories also decreased by 1.3 million barrels.
Total commercial petroleum inventories fell by 5.9 million barrels, signaling ongoing strength in U.S. fuel consumption and refining operations.
