U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.5 million barrels from the previous week, APA-Economics reports citing Oilandgas360.
At 473.7 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as of March 24, 2023.