2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 4/12/2017 10:30:00 AM For wk4/7, 2017
PriorActual
Crude oil inventories (weekly change)1.6 M barrels-2.2 M barrels
Gasoline (weekly change)-0.6 M barrels-3.0 M barrels
Distillates (weekly change)-0.5 M barrels-2.2 M barrels

Highlights
Crude oil inventories fell 2.2 million barrels in the April 7 week to 533.4 million, up 5.6 percent from last year at this time. Product inventories also decreased, with gasoline down 3.0 million barrels to 236.1 million, 1.5 percent below the year ago level, and distillates down 2.2 million barrels to 150.2 million, an 8.1 percent decrease from a year ago.

Crude oil imports averaged 7.9 million barrels per day, up by 28,000 barrels per day from the prior week. Over the last 4 weeks, imports averaged 8.1 million barrels per day, 3 percent above the level in the same period last year.

Refineries operated at 91.0 percent of their operable capacity, up 0.2 percentage points from the prior week. Production also increased, with gasoline averaging 9.9 million barrels and distillates 5.1 million barrels per day.

On the demand side, total products supplied over the last 4 weeks averaged 19.7 million barrels per day, unchanged from the same period last year. Of this amount, supplied gasoline averaged 9.3 million barrels, down 1.0 percent year-on-year, while distillates supplied averaged 4.2 million barrels, up a sharp 15.6 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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