Crude stockpiles increased by 6.9 million barrels in the past week, according to the EIA

Weekly U.S. Oil Market Update

For the week ending March 20, 2026, U.S. refineries processed an average of 16.6 million barrels of crude oil per day, marking an increase of 366,000 barrels per day compared to the previous week. Refinery utilization reached 92.9% of total capacity during this period.

Gasoline output rose, with production averaging 9.7 million barrels per day. Distillate fuel production also saw growth, climbing by 158,000 barrels per day to reach an average of 5.0 million barrels per day.

Meanwhile, U.S. crude oil imports averaged 6.5 million barrels per day, reflecting a decrease of 730,000 barrels per day from the prior week.