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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 12/5/07 For wk 11/30 2007
Crude oil inventories (weekly change)
 Actual -7.9M barrels  
 Previous -0.5 M barrels  

Highlights
Crude oil stocks plunged 7.9 million barrels in the Nov. 30 week to 305.2 million, for an 8.8 percent year-on-year decline that is certain to fire up new volatility and new gains for oil prices. But limiting reaction will be a gain in stocks at the key Cushing refinery where stocks rose 0.7 million barrels to 15.9 million. Also offsetting the headline drawdown are gains in gasoline and especially distillate stocks which rose 1.4 million barrels to 132.2. Volatility in the oil sector remains a fixed trouble spot for the global economy.

Trends
[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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