US commercial crude oil inventories decreased 0.6 million barrels to 423.4 million barrels in the week ending 11 September 2026, according to the Energy Information Administration. The draw came as crude oil imports increased 234,000 b/d to 7.1 million b/d, a combination that points to substantial volumes moving through the domestic oil system.
Refinery activity remained high. Capacity utilisation was 96.8% for the week, while refineries processed 17.3 million barrels per day of crude oil. That processing rate was down 256,000 b/d from the previous week. US crude production stood at 13.9 million barrels per day.
The crude inventory decline was modest beside the broader build in petroleum stocks. Gasoline inventories increased 0.8 million barrels and distillate inventories rose 1.6 million barrels. Total commercial petroleum inventories increased by 2.6 million barrels.
The figures offer a mixed reading for oil prices. Crude stocks fell, though commercial crude oil inventories remained 1% above the five-year average. Rising holdings of refined products also add to available fuel supplies. The data does not identify the reasons for the weekly changes in inventories or product demand.
West Texas Intermediate crude oil was priced at $101.27 per barrel on 11 September 2026. That was $8.58 more than a week ago and $38.25 more than a year ago. The national average retail price for regular gasoline was $4.319 per gallon on 14 September 2026.
Imports have been running above their level a year earlier. The four-week average of crude oil imports was 6.7 million b/d, which was 7.5% above the year-ago level. Cushing crude stocks were 21.5 million barrels in the week ending 11 September 2026.
The latest draw followed a larger weekly decline in an earlier report. Commercial crude inventories fell by 4.5 million barrels to 424.5 million barrels in the week ended 28 August. US exports rose by 691,000 bpd to 4.5 million bpd in that week, while net US crude imports fell by 79,000 barrels per day.
The two reports show that weekly changes can vary sharply. The 28 August report recorded a larger crude draw, while the week ending 11 September showed a smaller decline alongside higher crude imports and a build in total petroleum inventories. Elevated refinery utilisation and crude processing indicate that refineries continued to take substantial volumes of crude, though the rise in gasoline and distillate inventories complicates any simple reading of end-market fuel demand.
For now, the data shows crude supply tightening at the commercial storage level during the latest week, even as imports increased. It also shows product stocks rising and overall commercial petroleum inventories growing. The figures alone do not determine the direction of oil prices or explain the movements in supply, refining and consumption.
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