2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 3/22/2017 10:30:00 AM For wk3/17, 2017
Crude oil inventories (weekly change)-0.2 M barrels5.0 M barrels
Gasoline (weekly change)-3.1 M barrels-2.8 M barrels
Distillates (weekly change)-4.2 M barrels-1.9 M barrels

Crude oil inventories resumed their upward climb in the March 17 week, rising 5.0 million barrels to 533.1 million, up 6.3 percent from last year at this time. But product inventories declined again, with gasoline down 2.8 million barrels to 243.5 million, 0.7 percent below the level a year ago, and distillates down 1.9 million barrels to 155.4 million, 2.6 percent down year-on-year. Despite the declines in product inventories, stocks of gasoline and distillates are at the upper half of the average range for this time of year, while stocks of crude oil are at the upper limit.

Crude oil imports increased sharply, averaging 8.3 million barrels per day, up by 902,000 thousand barrels per day from the prior week. Over the last four weeks, imports averaged about 7.9 million barrels per day, 3 percent less than in the same period last year.

Refineries operated at 87.4 percent of the operable capacity, up 2.3 percentage points from the previous week. Production increased as well, with gasoline averaging 9.8 million and distillates 4.3 million barrels per day.

On the demand side, total products supplied over the last 4 weeks averaged 19.5 million barrels per day, up 0.5 percent from the same period last year. Of this amount, supplied gasoline averaged 9.1 million barrels per day, down 2.9 percent from last year, while distillate fuel supplied averaged 4.1 million barrels, up an outsized 14.1 percent year-on-year.

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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