EIA Oil Inventories Crude -7208 Draw, Gasoline -1015 Draw #TCOIL

The TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variable to watch out for. Crude oil markets are watching for production and product use with the all important import export trade.

 Cushing Oil Storage

DOE Weekly Petroleum Status Report Date: 7/19/17
Release Time: Wednesday 26 July 2017 – 10:30 ET

Market Expectations

 ActualExpectedPriorAPI
Crude -7208k -3000k-4727k -10200k
Cushing -1699k -1174k-23k -2568k
Gasoline -1015k -1200k-4445k +1900k
Distillate – 1852k

 – 700k

-2137k -111k
Refinery Use  +.30% +.40%-.050% na
Imports    +386k na
 ActualPrior
Production

–  0.019 to 9.410 mbpd

+ 0.895 mbpd YOY.

+ 0.032 to 9.429 mbpd

+ 0.935 mbpd YOY.

Note in bbls *exp = Reuters poll est except Cushing  

Summary of Weekly Petroleum Data for the Week (Live Link)

DOE Estimates via @EnergyBasis

Crude Production – Oil Rigs – Crude Futures 

Total US RigCount 

Current US Oil & NatGas RigCount

EIA Prep via @DigStic

 

TankerTackers.com Estimates @TankerTrackers

 Refinery Runs

NB: We added Ron H as one of our favored analysts this week, check out his great work at Ron H Public Tableau Link

WTI Oil Futures (CL) via‏ @Lee_Saks

Ahead of API WTI crude oil futures settle at $47.89/bbl +$1.55 +3.34%

API via Marketwatch 
By Myra P. Saefong @MktwSaefong

API data reportedly revealed a huge weekly draw for US crude supplies. WTI oil is above $48/bbl in electronic trade

Oil prices topped $48 a barrel late Tuesday after the American Petroleum Institute reported that U.S. crude supplies dropped 10.2 million barrels for the week ended July 21, according to sources. The API data also showed a rise of 1.9 million barrels in gasoline supplies, while inventories of distillates were down 111,000 barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a decline of 2.5 million barrels in crude inventories. September crude CLU7, +4.66%was at $48.46 a barrel in electronic trading, up from the contract’s settlement of $47.89 on the New York Mercantile Exchange.

http://www.marketwatch.com/story/oil-tops-48-as-sources-say-api-data-show-big-drop-in-us-crude-supply-2017-07-25?mod=mw_share_twitter

 ** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.

REGULAR & HOLIDAY RELEASE SCHEDULE

Further Crude Oil Analysis #OOTTNews

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