2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

EIA Petroleum Status Report  
Released On 4/19/2017 10:30:00 AM For wk4/14, 2017
PriorActual
Crude oil inventories (weekly change)-2.2 M barrels-1.0 M barrels
Gasoline (weekly change)-3.0 M barrels1.5 M barrels
Distillates (weekly change)-2.2 M barrels-2.0 M barrels

Highlights
Crude oil inventories fell 1.0 million barrels in the April 14 week to 532.3 million, up 4.9 percent from last year at this time. In petroleum products, gasoline inventories rose 1.5 million barrels to 237.7 million, down 0.8 percent from the year ago level, but distillate inventories fell 2.0 million barrels to 148.3 million, 7.3 percent below last year's level for this period.

Crude oil imports averaged 7.8 million barrels per day last week, down by 68,000 barrels from the prior week. Over the last 4 weeks, imports averaged 7.9 million barrels per day, 2 percent above the level last year at this time.

Refineries operated at 92.9 percent of their operable capacity, up 1 percentage point from the prior week. Gasoline production nevertheless decreased, averaging 9.8 million barrels per day, while distillate production rose to 5.2 million barrels per day.

On the demand side, total products supplied over the last 4 weeks averaged 19.7 million per day, down 0.8 percent from the same period last year. Of this amount, supplied gasoline averaged 9.3 million barrels, down 0.7 percent from last year, while distillates supplied averaged 4.3 million barrels, up 9.9 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
 
 

powered by  [Econoday]