US Crude Oil Inventories Still in Freefall

267 million barrels in the week ending October 30. 031 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 64 million barrels over the last 29 weeks, and 12 million over this year, according to API data, which has been kept in check in part thanks to draws from the SPR.

2 million barrels—a level that is 432 million barrels shy of maximum capacity. The generally accepted operational minimum for oil in the SPR is between 250-300 million barrels, below which the reserve may find it difficult to pump and process oil efficiently. 269 million bpd in the week prior, and up 348,000 bpd from a year ago.