US Crude Oil Inventories Drop by 3.06 Million Barrels, Far Exceeding Forecasts

10:12 - 23.10.2026


October 23, Fineko/abc.az. Commercial crude oil inventories in the US experienced a steeper-than-expected decline last week, according to the Energy Information Administration (EIA) of the US Department of Energy.

For the week ending October 16, US commercial crude stockpiles fell by 3.061 million barrels, surpassing market expectations of a 0.8 million-barrel drawdown.

Gasoline inventories dropped by 2.952 million barrels (forecast: -0.4 million barrels), while distillate stocks increased by 1.675 million barrels (forecast: -1.2 million barrels).