EIA: US crude stocks posted surprise build as refinery runs eased

US crude oil inventories rose unexpectedly in the week ending 29 August 2025 as refiners scaled back operations ahead of the autumn maintenance season, according to the latest data from the Energy Information Administration (EIA).

Commercial crude stocks climbed by 2.4 million barrels to 420.7 million, defying expectations of a 2.0 million-barrel draw in a Reuters survey. The build also exceeded the 0.6 million-barrel increase projected by the American Petroleum Institute. Despite the rise, crude inventories remain about 5–7% below the five-year average.

The increase marked a reversal from recent weeks of draws and reflected both higher imports, which surged by 6.7 million barrels, and lower refinery runs tied to planned maintenance. Domestic crude production, meanwhile, held steady near record highs of 13.4 million barrels per day.

Refinery crude inputs slipped modestly to 16.87 million barrels per day, down 11,000 barrels from the prior week, nudging utilisation rates lower to 94.3% from 94.6%.

Product balances diverged. Total motor gasoline stocks fell sharply by 3.8 million barrels to 218.5 million, leaving inventories around 2% below the five-year norm. Distillate inventories, however, rose by 1.7 million barrels but remain 13% below seasonal averages. Propane and propylene stocks added 3.2 million barrels, extending their surplus to 12% above the five-year benchmark.

Written: Farid Muzaffar