What was the reported change in U.S. crude inventories and refinery utilization rate for the week ended May 22, and how did the actual crude draw compare to expectations?

For the week ended May 22, the Energy Information Administration (EIA) reported that crude inventories fell by 3.3 million barrels to 441.7 million barrels, which was less than the Reuters poll’s expectation of a 4.1 million-barrel draw; meanwhile, refinery utilization increased by 0.3 percentage points from 94.5% of total capacity in the prior week.

ChemBrief

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US crude stocks, product inventories likely fell last week

Q: What were the average analyst estimates for changes in U.S. crude, gasoline, and distillate inventories for the week ended May 29, according to the Reuters poll?

According to the Reuters poll, analysts estimated that U.S. crude oil inventories fell by about 4 million barrels, gasoline inventories declined by about 500,000 barrels, and distillate inventories (including diesel and heating oil) dropped by about 300,000 barrels for the week ended May 29.

Jun 2, 2026

A Reuters poll forecasts declines in U.S. crude, gasoline, and distillate inventories last week, estimating a 4 million barrel drop in crude stockpiles ahead of official EIA and API reports. Refinery utilization is also projected to have risen slightly.

reuters

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US Crude and Gasoline Inventories Fell Last Week, Distillates Rose - EIA Says

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US Crude Production Largely Steady in March, EIA Says

2026-06-02

US crude stocks, product inventories likely fell last week

2026-06-08

US Jet Fuel Output Hits Record as Iran War Doubled Prices in March, EIA Says

2026-06-17

US Crude Inventories Fall to Lowest Since March 1985, EIA Says