2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 1/19/2017 11:00:00 AM For wk1/13, 2017
Crude oil inventories (weekly change)4.1 M barrels2.3 M barrels
Gasoline (weekly change)5.0 M barrels6.0 M barrels
Distillates (weekly change)8.4 M barrels-1.0 M barrels

Crude oil inventories rose 2.3 million barrels in the January 13 week to 485.5 million and were up 6.7 percent from last year at this time. Motor gasoline inventories also rose and were up 6.0 million barrels to 246.4 million, 0.6 percent above the level a year ago. Inventories of distillates declined by 1.0 million barrels to 169.1 million, putting the level 2.8 percent above last year at this time.

Crude oil imports averaged 8.4 million barrels per day in the week, down 674,000 barrels from the previous week. Average imports over the last 4 weeks ran at 8.2 million barrels per day, 4.5 percent above the level a year ago.

Refineries operated at 90.7 percent of their operable capacity, down 2.9 percentage points from the previous week. Production decreased to an average of 9.0 million barrels per day for gasoline and 4.7 million barrels per day for distillates.

On the demand side, total products supplied over the last four weeks averaged 19.3 million barrels per day, up 0.1 percent from the same period last year. Of this amount, supplied gasoline averaged about 8.6 million barrels per day, down 2.4 percent from the level last year, while distillates fuel supplied averaged 3.5 million, up 6.6 percent compared to last year at this time.

The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.  Why Investors Care
As is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
Data Source: Haver Analytics

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