EIA Wednesday

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Week ending May 15, 2026THE PRINTThe US pulled a whopping 9.92 MMbbl from the SPR last week, an all-time weekly record and the second set in as many weeks. Add the 7.86 MMbbl commercial crude draw and the country emptied close to 17.8 MMbbl of its crude buffer in seven days, while still exporting 5.49 MMbpd. This is not organic tightness. It is Washington spending the strategic reserve to hold the tape through the Middle East crisis, and the pace is accelerating: 7.1, then 8.6, now 9.92. The buffer is the story, and it is draining fast. The buffer is the story. Watch the pace - if next week SPR draw is above 9.92, September tank-bottom becomes September event risk.Records this weekSPR: new all-time weekly draw record, -9.92 MMbbl. Second straight record week (prior record -8.6 MMbbl, week ending May 8).Jet fuel exports: 455 kbpd, highest in seriesCrude exports: 5.49 MMbpd, #3 highest in seriesTop movers (w/w)SPR -9.92 MMbbl, z -5.6 OUTSIZEDCommercial crude -7.86 MMbbl, z -1.5 notableCushing -1.60 MMbbl, z -1.1 notableThe Oil Report is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.The SPR is drawing at an ungodly rate. US SPR specifically: 31mb released by 8 May.Current projections put this at tank bottom in September. “9mb of the 11mb of US SPR crude exported so far were shipped to Europe.” Source: IEA citing Kpler ship tracking. ‘‘Around 31 mb of crude... released by 8 May, including 1.6 mb in March." Source: IEA monthly May report. ShareMotor and diesel stocks not looking great here at all. Motor gaso…