|
|
|
EIA Petroleum Status Report
|
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
|
| Released on
1/10/07
For
wk 1/5 2007 |
|
Crude oil inventories (weekly change)
|
| Actual |
-5.0M barrels
|
| Previous |
-1.3
M barrels
|
|
|
|
|
|
Highlights
For a third week in a row, crude oil inventories fell while inventories of refined products rose -- mixed results that may at least limit downward pressure on oil prices. Crude stocks fell 5.0 million barrels in the Jan. 5 week to 314.7 million but remain well above average. Distillate stocks rose 5.4 million barrels with gasoline stocks up 3.8 million, with both, especially distillates, also above average. Refineries continue to increase production, operating at 91.5 percent in the week. The incredibly warm weather that is sweeping the country is limiting demand for heating fuel (a distillate category) and has pushed oil prices to 18-month lows.
|
Trends
![[Chart]](chart.gif)
|
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]](../../../../../../../../../images/logo.gif)
|
|
Legal Notices | © Copyright 2000 - 2008.
Econoday, Inc.
|