2017 Economic Calendar
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EIA Petroleum Status Report  
Released On 3/8/2017 10:30:00 AM For wk3/3, 2017
PriorActual
Crude oil inventories (weekly change)1.5 M barrels8.2 M barrels
Gasoline (weekly change)-0.5 M barrels-6.6 M barrels
Distillates (weekly change)-0.9 M barrels-2.7 M barrels

Highlights
Crude oil inventories extended the streak of weekly builds to 9 weeks in a row, rising 8.2 million barrels in the March 3 week to 528.4 million, up 7.7 percent from last year at this time. But product inventories declined again and this time substantially, with motor gasoline down 6.6 million barrels to 249.3 million, down 0.5 percent from the year ago level, while distillates fell 2.7 million barrels to 161.5 million, down 0.6 percent year-on-year.

Crude oil imports averaged 8.2 million barrels per day, up by 561,000 barrels per day from the previous week. But Imports over the last 4 weeks averaged only 7.9 million barrels per day, 1.7 percent less than in the same period a year ago.

Refineries operated at 85.9 percent of their operable capacity, down slightly by 0.1 percentage point from the prior week. Production nevertheless increased, averaging 9.8 million barrels per day for gasoline and 4.8 million barrels for distillates.

On the demand side, total products supplied over the last 4 weeks averaged 19.6 million barrels per day, down 1.3 percent from the same period last year. Of this amount, supplied motor gasoline averaged 8.8 million barrels per day, down 6.1 percent from the year ago level, but distillate product supplied averaged 4.0 million barrels, up a sharp 12.6 percent year-on-year.

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
 
[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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