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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
8/15/07
For
wk 8/10 2007 |
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Crude oil inventories (weekly change)
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| Actual |
-5.2M barrels
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| Previous |
-4.1
M barrels
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Highlights
Crude oil stocks fell 5.2 million barrels in the Aug. 10 week to 335.2 million, a drawdown together with a 1.1-million-barrel drawdown in gasoline stocks that may give oil prices a new lift. Crude stocks remain above average despite a series of drawdowns while gasoline stocks, despite rising production, remain below average. Refineries operated at a firm 91.8 percent of capacity in the week. Gasoline stocks are down 3.9 percent compared to this time last year, against a 0.4 percent rise in demand.
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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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