2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 2/15/2017 10:30:00 AM For wk2/10, 2017
Crude oil inventories [weekly change]13.8 M barrels9.5 M barrels
Gasoline [weekly change]-0.9 M barrels2.8 M barrels
Distillates [weekly change]0.0 M barrels-0.7 M barrels

Crude oil inventories continue to bloat, rising 9.5 million barrels in the February 10 week to 518.1 million, up 9.6 percent year-on-year. The large weekly increase follows an outsized 13.8 million barrel rise in the prior week and makes it the sixth weekly build in a row. Product inventories were mixed, with motor gasoline rising 2.8 million barrels to 259.1 million, up 0.1 percent year-on-year, while distillates declined by 0.7 million barrels to 170.1 million, up 4.7 percent from a year ago.

Crude oil imports fell to an average of 8.5 million barrels per day, down 881,000 barrels per day from the prior week. The average of daily imports over the last 4 weeks remained steady, however, at 8.5 million barrels per day, 9.9 percent above the year ago level.

Refineries operated at 85.4 percent capacity, down 2.3 percentage points from the prior week, and gasoline production decreased to an average of 9.0 million barrels per day while distillates fell to an average of 4.5 million barrels.

On the demand side, total products supplied over the last 4 weeks averaged 19.4 million barrels per day, down by 2.0 percent from the same period last year. Supplied motor gasoline averaged 8.4 million barrels per day, down by 5.3 percent from the year ago period, while distillates fuel supplied averaged 3.8 million barrels per day, 7.4 percent higher than a year ago.

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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