In terms of the year so far, US crude oil levels have increased by 760,000 barrels, almost level with the start of the year. CREDIT: VFKA via Getty Images.

US crude storage levels have remained relatively stable this year, after rising slightly over the past week, according to figures released by The American Petroleum Institute (API).

The body, the largest American trade association for the oil and gas industry, reported that crude levels rose by 347,000 barrels for the week ending August 16, as part of a survey oil storage facilities and companies.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

However, in the previous week, the organisation reported a fall in stocks of 5.2m barrels.

In terms of the year so far, US crude oil levels have increased by 760,000 barrels, almost level with the start of the year.

However, gasoline stocks fell by more than one million barrels during the past week.

At the end of last week, the US’s Strategic Petroleum Reserve (SPR) rose by almost a million barrels, reaching 377m barrels, as the country tries to rebuild stocks that have been depleted over recent years.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The SPR, which has a maximum storage capacity of 714 million barrels, is the world’s biggest supply of emergency crude oil, originally established to reduce the impact of disruptions in supplies of petroleum products.

In March 2022, President Joe Biden announced that 180 million barrels of crude from the reserve would be sold over six months – the largest SPR sale in history – to combat soaring energy prices in the wake of Russia’s war in Ukraine.