2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 7/12/2017 10:30:00 AM For wk7/7, 2017
PriorActual
Crude oil inventories (weekly change)-6.3 M barrels-7.6 M barrels
Gasoline (weekly change)-3.7 M barrels-1.6 M barrels
Distillates (weekly change)-1.9 M barrels3.1 M barrels

Highlights
Crude oil inventories fell sharply by 7.6 million barrels in the July 7 week to 495.4 million, 0.9 percent above the level in the same period a year ago. Product inventories were mixed, with gasoline down 1.6 million barrels to 235.7 million, 1.8 percent below the year ago level, while distillates rose by 3.1 million barrels to 153.6 million, 0.4 percent above last year.

Crude oil imports fell 132,000 barrels per day in the week to an average of 7.6 million barrels per day. Over the last four weeks, crude oil imports averaged 7.8 million barrels, 3.0 percent below the level in the same period last year.

Refineries operated at 94.5 percent of their operable capacity, up 0.9 percentage points from last week, increasing their production of gasoline and distillates to an average of 10.5 million and 5.3 million barrels per day, respectively.

Product demand increased over the last four weeks, with total product supplied averaging 20.7 million barrels per day, up 2.8 percent from the same period last year. Gasoline products supplied during the period increased to an average of 9.7 million barrels per day, down 0.3 percent year-on-year, while distillate products supplied averaged 4.1 million barrels per day, 8.8 percent above the same four-week period last year.



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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