Commodities Buzz: US Crude Oil imports down around 11% in last four-weeks compared to same period last year

EIA stated in a latest update that the US crude oil refinery inputs averaged 17.1 million barrels per day during the week ending July 17, 2026, which was 58 thousand barrels per day less than the previous week’s average. Refineries operated at 96.1% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production increased, averaging 5.3 million barrels per day. US crude oil imports averaged 5.8 million barrels per day last week, increased by 117 thousand barrels per day from the previous week.

Over the past four weeks, crude oil imports averaged about 5.6 million barrels per day, 11.4% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 494 thousand barrels per day, and distillate fuel imports averaged 173 thousand barrels per day. US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.0 million barrels from the previous week.

EIA noted that at 411.7 million barrels, US crude oil inventories are about 6% below the five-year average for this time of year. Total motor gasoline inventories increased by 0.8 million barrels from last week and are 7% below the five-year average for this time of year. Both finished gasoline and blending component inventories increased last week. Distillate fuel inventories increased by 1.4 million barrels last week and are about 10% below the five-year average for this time of year.

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