2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 3/29/2017 10:30:00 AM For wk3/24, 2017
PriorActual
Crude oil inventories (weekly change)5.0 M barrels0.9 M barrels
Gasoline (weekly change)-2.8 M barrels-3.7 M barrels
Distillates (weekly change)-1.9 M barrels-2.5 M barrels

Highlights
Crude oil inventories rose 0.9 million barrels in the March 24 week to 534.0 million, up 6.0 percent from last year at this time. But product inventories declined again and more substantially, with gasoline down 3.7 million barrels to 239.7 million, 1.2 percent below the year ago level, and distillates down 2.5 million barrels to 152.9 million, for a year-on-year decrease of 5.1 percent.

Crude oil imports averaged 8.2 million barrels per day, down by 83,000 barrels per day from the prior week. Over the last 4 weeks, imports averaged over 8.0 million barrels per day, 0.7 percent more than in the same period last year.

Refineries operated at 89.3 percent of their operable capacity, up 1.9 percentage points from the previous week. Production also increased, averaging over 10.0 million barrels per day for gasoline and 4.9 million barrels per day for distillates.

On the demand side, total products supplied over the last 4 weeks averaged 19.6 million barrels per day, up 0.7 percent from the same period last year. Of this amount, supplied gasoline averaged 9.3 million barrels per day, down 1.0 percent from last year, while distillate fuel supplied averaged 4.2 million barrels, up a sharp 13.1 percent year-on-year. A strong year-on-year gain was also registered for supplied jet fuel, which was up 12.1 percent.


Definition
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
 
[Chart]
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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