|
|
|
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
8/1/07
For
wk 7/27 2007 |
|
Crude oil inventories (weekly change)
|
| Actual |
-6.5M barrels
|
| Previous |
-1.1
M barrels
|
|
|
|
|
|
Highlights
Crude oil stocks fell 6.5 million barrels in the July 27 week to 344.5 million. The decline in crude was accompanied by gains in refined products, indicating that refineries, which operated at a very strong 93.6 percent of capacity in the week, drew down crude stocks as they increased production. Gasoline stocks rose 0.6 million barrels in the week to 204.7 million with distillate stocks up 2.8 million to 126.5 million. Oil rose in immediate reaction to the draw down in crude stocks.
|
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.
|
