EIA: US crude stockpiles grow in latest week by the most since February 2023

EIA: US crude stockpiles grow in latest week by the most since February 2023

EIA: U.S. Crude Stockpiles Surge to Largest Weekly Increase Since February 2023

U.S. crude oil inventories rose by 11.4 million barrels in the week ended February 20, 2026, marking the most significant weekly increase since February 2023, according to API data cited by the U.S. Energy Information Administration. This surge more than offset a 0.61 million-barrel decline in the prior week and far exceeded the projected build of 1.85 million barrels.

The latest inventory jump follows a volatile period for crude stocks, including a 13.4 million-barrel increase in the week ended February 6, 2025, which was the sharpest rise since January 2023. Historical context shows U.S. crude oil inventories averaged 0.16 million barrels per week from 2012 to 2026, with extremes ranging from a record high build of 14.87 million barrels in January 2023 to a draw of -15.40 million barrels in July 2023.

The recent inventory growth may reflect seasonal factors, production dynamics, or shifts in refining activity, though specific drivers were not detailed in the data. Market participants will likely monitor upcoming EIA reports and global demand trends for further clarity on the implications for oil prices and supply balances.

With crude stockpiles now at their highest level since early 2023, the data underscores the importance of tracking inventory movements in a market sensitive to geopolitical developments, OPEC+ policies, and economic growth expectations. Investors and analysts are advised to await the EIA's Short-Term Energy Outlook for a broader assessment of near-term supply-demand fundamentals.

(https://www.eia.gov/outlooks/steo/archives/feb23.pdf): EIA, Short-Term Energy Outlook, February 2023 (https://tradingeconomics.com/united-states/api-crude-oil-stock-change): Trading Economics, United States API Crude Oil Stock Change

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