EIA: US crude oil inventories rose unexpectedly amid ongoing refinery maintenance

According to data from the US Energy Information Administration (EIA), US commercial crude oil inventories rose by 3.6 million barrels to 433.8 million barrels for the week ending 28 February 2025. The buildup extended the month’s general trend amid seasonal refinery maintenance despite an unexpected drawdown in the prior week.

Refinery utilisation rates edged back down after a brief increase the previous week, dropping from 86.5% to 85.9%. Concurrently, crude oil refineries processed approximately 15.4 million barrels per day, down by 346,000 barrels per day.  

Meanwhile, crude oil imports inched 106,000 barrels per day lower, sitting at just 5.8 million barrels per day. Within the most recent four-week period, imports have averaged a 10.7% drop since the same period in 2024, at  6.0 million barrels per day.

While the motor gasoline inventories fell by 1.4 million barrels due to stronger export activities, they remained 1% above the five-year average for this period.  

On the production front, US crude oil output edged up by 6,000 barrels per day to 13.508 million barrels per day, extending an uptrend.

Written by: Derek Yong