U.S. crude oil inventories post sixth straight weekly drop, exceeding expectations

Published Jun 5, 03:38 AM UTC

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U.S. crude oil inventories fell for the sixth consecutive week, dropping by 8 million barrels to 433.7 million barrels in the week ended May 29, according to data from the U.S. Energy Information Administration (EIA). The decline exceeded analyst expectations of a 3.3 million barrel drop, as reported in a Wall Street Journal survey. The EIA noted that commercial crude stocks, excluding the Strategic Petroleum Reserve, are now about 3% below the five-year average for this time of year. The sustained drawdown was attributed to rising exports and refineries operating near full capacity. The data was released on Wednesday, June 3, 2026, and highlights ongoing tightness in the U.S. oil market.

Source report

Commercial crude oil stocks fell by 8 million barrels to 433.7 million barrels last week

By Anthony Harrup

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U.S. crude oil inventories extended their decline to six weeks as exports rose and refineries ran near full capacity, according to data released Wednesday by the U.S. Energy Information Administration (EIA).

Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 8 million barrels to 433.7 million barrels in the week ended May 29, and were about 3% below the five-year average for the time of year, the EIA said.

Analysts had expected crude stocks to fall by 3.3 million barrels, according to a Wall Street Journal survey.

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Yahoo FinanceWestern

Original headline: U.S. Crude Oil Stockpiles Post Sixth Straight Weekly Drop

Original language: EN-US

Part of this Story

U.S. crude oil inventories drop for sixth straight week, SPR continues drawdown

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