U.S. Commercial Crude Stocks Fall 1.9 Million Barrels in Week Ended Oct. 23

U.S. commercial crude holdings stood at 410.625 million barrels at the end of the week on Oct. 23, after a 1.892 million-barrel weekly decline. It was the second consecutive weekly drop, while crude exports and domestic production both increased.

The previous reading was 412.517 million barrels for the week ended Oct. 16, following a 3.061 million-barrel decline. The latest figures extend the weekly inventory series covered in the prior update on U.S. crude stocks.

Crude exports increased by 1.412 million barrels per day, from 3.442 million to 4.854 million barrels per day. Domestic production rose by 723,000 barrels per day, from 13.269 million to 13.992 million.

Stocks at Cushing, Oklahoma, fell by 624,000 barrels to 26.970 million. The hub's inventory had increased by 987,000 barrels to 27.594 million in the previous week.

Refined-product inventories moved in different directions. Gasoline stocks added 3.870 million barrels to reach 209.180 million, while distillate inventories lost 1.462 million barrels and ended at 102.824 million.

The commercial crude figure excludes lease stock. The Strategic Petroleum Reserve is listed separately, so its inventory is not included in the 410.625 million-barrel total.

The U.S. Energy Information Administration (EIA) released the weekly figures Oct. 28 at 10:30 a.m. ET (14:30 UTC).