U.S. Crude Oil Inventories Fall Amid Rising Exports

U.S. crude oil inventories fell more than expected during the week ending August 15, 2025, according to data released by the U.S. Energy Information Administration (EIA). Commercial crude stocks declined by 6.0 million barrels, far exceeding the forecasted drop of around 1.3 million barrels.

At the Cushing, Oklahoma, delivery hub, inventories moved in the opposite direction, increasing by 419,000 barrels. This rise at the key hub came despite the nationwide decline, highlighting varying regional storage trends.

Fuel inventories showed mixed results over the same period. Gasoline supplies fell by 2.7 million barrels, indicating continued summer driving demand, while distillate stocks, including diesel and heating oil, rose by 2.3 million barrels.

A surge in exports contributed significantly to the overall drawdown in crude supplies. U.S. crude exports increased by 795,000 barrels per day, reaching 4.37 million barrels per day. At the same time, net crude imports decreased by 1.22 million barrels per day, tightening domestic stock levels.

Refinery activity remained strong, with crude runs increasing by 28,000 barrels per day and refinery utilization climbing to 96.6% of total capacity. This level of operation indicates sustained demand for refined petroleum products.

Domestic fuel demand also showed signs of resilience. The total product supplied,  a measure of overall fuel consumption, rose to 21.5 million barrels per day, reflecting steady market demand. Jet fuel consumption averaged its highest four-week level since 2019, driven by increased air travel activity during the peak travel season.

The report suggests that U.S. oil markets are responding to both strong export demand and robust domestic consumption, while refineries continue to operate at high capacity. These factors collectively reduced crude oil inventories more than analysts had anticipated.