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EIA Petroleum Status Report
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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
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| Released on
6/13/07
For
wk 6/8 2007 |
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Crude oil inventories (weekly change)
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| Actual |
0.1M barrels
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| Previous |
0.1
M barrels
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Highlights
Crude oil stocks rose 0.1 million barrels in the June 8 week to 342.4 million. Gasoline stocks were unchanged. Gasoline production, which has been sagging in recent weeks, rose but only moderately with stocks still well below average. Gasoline stocks are down 6.0 percent year-on-year while gasoline demand is up 1.4 percent. Refineries operated at a moderate 89.2 percent of capacity in the week. The soft gasoline production data gave an immediate lift to oil prices.
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Trends
![[Chart]](chart.gif)
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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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