Commercial crude stocks rose last week while the oil reserve fell to 311 million barrels
Commercial crude oil stocks rose last week. Total crude stocks fell anyway.
US commercial crude inventories, which leave out the Strategic Petroleum Reserve, rose 2.0 million barrels in the week ending July 17, to 411.7 million barrels, the Energy Information Administration reported on July 22. The reserve moved the other way, falling 5.1 million barrels to 311.4 million. That is 91.1 million barrels, or 22.6 percent, less than a year earlier.
Count the reserve and total crude fell 3.0 million barrels, to 723.1 million. Refineries took in 17.1 million barrels a day and domestic production held near 13.8 million. Gasoline stocks rose 0.8 million barrels, distillate 1.4 million. The report does not say why the reserve declined.