U.S. oil reserves decline, but the pace slows down

11:29 - 8.07.2026

July 8, Fineko/abc.az. U.S. commercial oil reserves continue to decrease, but the pace of decline has slowed down: in the week to July 3, they dropped by 399,000 barrels against 6.07 million a week earlier. Over 12 weeks, the decline was nearly 60 million barrels, since the beginning of the year - 8.6 million barrels.

The stocks in the strategic reserve fell by 6.2 million barrels (to 325.7 million), and in Cushing — by 69,000 barrels. Gasoline stocks also decreased (-2.93 million) and distillates (-1.8 million).

Oil production observed slight decline to 13.81 million b/d. In general, the reduction in stocks shows steady demand, while the slight drop in production does not yet have significant impact on supply.