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US Crude Oil Stocks Hit Lowest Since March 2022 Last Week, EIA Data Shows

Business & Policy
January 24, 2025

U.S. crude oil stocks, excluding the Strategic Petroleum Reserve, fell by 1.02 million barrels to 411.66 million barrels in the week ended Jan. 17, the lowest since March 2022, according to U.S. Energy Information Administration data released on Thursday.

That was the ninth consecutive weekly drawdown from U.S. crude oil inventories, the longest such streak since January 2018’s record of 10 straight weekly declines.

Reporting by Shariq Khan and Scott DiSavino in New York; Editing by Richard Chang