EIA: US crude inventories down 3.8 million bbl

US crude oil inventories for the week ended Jan. 2, 2026, excluding the Strategic Petroleum Reserve, decreased by 3.8 million bbl from the previous week, according to data from the US Energy Information Administration.

At 419.1 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 7.7 million bbl from last week and are about 3% above the 5-year average for this time of year. Finished gasoline inventories decreased, while blending components inventories increased last week. Distillate fuel inventories increased by 5.6 million bbl last week.

Propane-propylene inventories decreased by 2.2 million bbl from last week and are 29% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.9 million b/d for the week ended Jan. 2, which was 62,000 b/d more than the previous week’s average. Refineries operated at 94.7% of capacity.

Gasoline production decreased, averaging 9.0 million b/d. Distillate fuel production increased by 81,000 b/d, averaging 5.3 million b/d.

US crude oil imports averaged 6.3 million b/d, up 1.4 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.0 million b/d, 9.7% less than the same 4-week period last year. Total motor gasoline imports averaged 549,000 b/d. Distillate fuel imports averaged 207,000 b/d.