US Crude Exports Jump 1.41 Million Barrels a Day as Commercial Stocks Slip 640,000 Barrels
US crude oil exports rose by 1,414,000 barrels a day to 4,831,000 in the week to 11 September, the Energy Information Administration said on 16 September. Commercial crude stocks, excluding the Strategic Petroleum Reserve, fell 640,000 barrels to 423.4 million. The reserve drew down another 403,000 barrels to 285.0 million.
Exports rebound, but stay below last year
Even after the jump, exports are still 446,000 barrels a day below the same week of 2025. Crude imports rose 234,000 barrels a day to 7,058,000, so net crude imports fell to 2,227,000 from 3,407,000. Refineries processed 17,330,000 barrels a day, down 256,000 on the week but 5.5 percent more than a year earlier on our calculation. Domestic production was little changed at 13,944,000.
Across crude and refined products together, the United States exported 3,740,000 barrels a day more than it imported.
| Flow, thousand b/d | Week to 11 Sep | Week to 4 Sep | Year ago |
|---|---|---|---|
| Crude production | 13,944 | 13,947 | 13,482 |
| Crude imports | 7,058 | 6,824 | 5,692 |
| Crude exports | 4,831 | 3,417 | 5,277 |
| Refinery crude input | 17,330 | 17,586 | 16,424 |
| Total products supplied | 21,255 | 19,313 | 20,637 |
Weekly estimates. Year ago is the week to 12 September 2025.
Product stocks build, the reserve keeps falling
Distillate stocks rose 1.585 million barrels to 107.9 million but remain 13.5 percent below a year ago. Gasoline stocks added 794,000 barrels to 207.7 million, 4.6 percent below last year. Jet fuel fell 695,000 barrels and propane 1.38 million barrels. Total stocks excluding the reserve rose 2.6 million barrels.
The reserve now holds 120.8 million barrels less than a year ago, down 29.8 percent. On our calculation it makes up 40.2 percent of all US crude stocks, against 49.4 percent a year earlier. Commercial crude, by contrast, is 8.1 million barrels above last year.
| Stock, million barrels | 11 Sep | Weekly change | vs year ago |
|---|---|---|---|
| Commercial crude | 423.429 | -0.640 | +8.068 |
| Strategic reserve | 284.957 | -0.403 | -120.771 |
| Gasoline | 207.732 | +0.794 | -9.918 |
| Distillate | 107.859 | +1.585 | -16.825 |
| Jet fuel | 45.338 | -0.695 | +1.438 |
| Propane and propylene | 109.092 | -1.378 | +10.161 |
Year ago is 12 September 2025.
Total products supplied rose 1,942,000 barrels a day in the week. Over 4 weeks it averaged 20,548,000, 0.6 percent below the same period last year. Gasoline supplied was down 1.0 percent and distillate 3.3 percent on the same 4 week basis.
Why it matters: Net crude imports fell 1,180,000 barrels a day in a single week on the export jump, while commercial crude stocks slipped just 0.2 percent. The larger year on year shift is in the makeup of crude inventories: on our calculation the strategic reserve has fallen from 49.4 percent to 40.2 percent of US crude stocks in a year, while 4 week supplies of gasoline and distillate are 1.0 percent and 3.3 percent below 2025.
Outlook: The next report, for the week to 18 September, is due on 23 September.
Sources: US Energy Information Administration.
