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Wednesday, October 28, 2026Updated 00:28 UTC

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US Crude Oil Inventories Buck Analyst Expectations

Source: OilPrice.com · Oct 27, 2026 20:56 UTC

Aerial view of refinery storage tanks near Houston on the Gulf coast — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.031 million barrels in the week ending October 23. In the week prior, US crude oil inventories fell by a staggering 4.93 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 58 million barrels over the last 28 weeks, but US crude inventories are still only 7

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