EIA reports a 7.974M barrel drop in US crude stocks for the week ending May 29, 2026, nearly double analyst forecasts, as exports hit near-record highs.

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 6.75 million barrels in the week ending May 29

US crude oil inventories fell 6.75M barrels per the API's latest report, nearly double the 3.6M barrel forecast, signaling tighter supply into summer.