EIA: US commercial crude inventories posted lower-than-expected build

The US Energy Information Administration reported a 1.4-million-barrel increase in commercial crude inventories, bringing total stockpiles to 435.2 million barrels for the week ending 7 March 2025. The build fell short of initial forecasts of a 2 million-barrel increase and left stockpiles 5% below the five-year seasonal average.

Refinery utilisation stood at 86.5% of operable capacity, reflecting typical rates for spring maintenance. Total gasoline production declined to an average of 9.6 million barrels per day, while distillate fuel production fell to 4.5 million barrels per day.

Despite lower refinery output, refined product inventories saw sharp drawdowns, with motor gasoline stocks falling by 5.7 million barrels amid strong export activity. Distillate fuel inventories also declined by 1.6 million barrels, keeping stockpiles roughly 5% below the five-year average.

Meanwhile, domestic crude oil production edged 67,000 barrels higher to 13.575 million barrels per day, sustaining output near record levels.

Written by: Derek Yong