Record Oil Exports Drain U.S. Inventories

Commercial crude oil inventories in the United States experienced a significant decrease of 6.2 million barrels in the week ending April 24, 2026, bringing the total to 459.5 million barrels. This reduction was largely influenced by a record surge in crude oil exports, which climbed by 1.6 million barrels daily to 6.4 million barrels per day, outpacing a decline in imports.

Refinery operations saw an increase in capacity utilization to 89.6%, with crude input rising. Concurrently, gasoline inventories fell for the eleventh consecutive week, down by 6.1 million barrels. Distillate fuel stocks also decreased substantially, dropping by 4.5 million barrels, indicating a broad drawdown across key fuel categories.