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US Oil Inventories Fall to Lowest Since 1984
Economy
U.S. commercial crude oil inventories have fallen by more than 15 million barrels.
US commercial crude oil inventories, including the Strategic Petroleum Reserve (SPR), fell by more than 15 million barrels to 743.3 million barrels in the week ending June 19, 2025, according to Energy Information Administration (EIA) data released Wednesday. This is the lowest level since October 1984.
Crude oil inventories excluding the SPR fell to their lowest since January 2025, according to the EIA.
Inventories at the Cushing, Oklahoma, oil hub fell to approximately 19 million barrels last week, the lowest since October 2014.
Crude oil inventories in the US Midwest fell to their lowest since November 2014, according to the agency. Additionally, the EIA reported that East Coast distillate fuel inventories fell to their lowest level since May 2022. East Coast refinery capacity utilization fell to its lowest level since April 2025.