By Anadolu Agency
May 7, 2026 5:23 pmUS commercial crude oil inventories fell by 0.5% in the week ending May 1, according to data released by the Energy Information Administration (EIA) on late Wednesday.
Inventories declined by 2.3 million barrels to around 457.2 million barrels, while market expectations had pointed to a decrease of 3.4 million barrels.
Strategic petroleum reserves, which are excluded from commercial crude stocks, fell by 5.2 million barrels to 392.7 million barrels, the data revealed.
Over the same period, gasoline inventories dropped by 2.5 million barrels to about 219.8 million barrels.
– Crude production decreases
EIA data showed that US crude oil production fell by 13,000 barrels per day (bpd) to about 13.57 million bpd during the week ending May 1.
US crude oil imports decreased by 273,000 bpd to around 5.47 million bpd, while exports fell by 1.68 million bpd to about 4.75 million bpd over the same period.
In its Short-Term Energy Outlook (STEO) released on April 8, the EIA forecast that US crude oil output would average 13.5 million bpd in 2026.
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