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.
DOE Weekly Petroleum Status Report: 8/2/17
Release Time: Wednesday 9 August 2017 – 10:30 ET
| Actual | Expected | Prior EIA | API | |
| Crude | -6451k | -2800k | -1527k | -7839 |
| Cushing | +569k | +720k | -39k | +319k |
| Gasoline | +3424k | -1500k | -2517k | +1529k |
| Distillate | -1729k | -100k | -150k | -157k |
Note in bbls *exp = Reuters poll est except Cushing
Refinery Utilization +.9% to 96.3%
Production +0.1% w/w to 9.423mbpd +11.5% y/y
Summary of Weekly Petroleum Data for the Week (Live Link)
DOE Estimates via @EnergyBasis
Crude Production – Oil Rigs – Crude Futures
Total US RigCount
EIA Prep via @DigStic
TankerTackers.com Estimates @TankerTrackers
RonH @Ronh999 Refinery Runs
NB: Check out Ron’s great work at Ron H Public Tableau Link
WTI Oil Futures (CL) via @Lee_Saks
Ahead of API WTI crude oil futures settle at $49.17/bbl. -$0.22. -0.45%. $CL_U7
API via Marketwatch
By Myra P. Saefong @MktwSaefong
U.S. crude supplies fall says API data, suggesting market
The American Petroleum Institute reported Tuesday that U.S. crude inventories declined while gasoline inventories increased for the week ended Aug. 4. API data showed that crude inventories declined 7.8 million barrels, while gasoline inventories increased 1.5 million barrels, according to sources. “Another big draw on crude suggests that market rebalancing [is] well underway,” said Phil Flynn, senior market analyst at the Price Futures Group, in emailed comments. Supply data from the Energy Information Administration is scheduled for release Wednesday morning. On Tuesday, West Texas Intermediate futures CLU7, +0.77% slid 22 cents, or 0.5% to settle at $49.17 a barrel. Following the API report, crude traded at $49.07 a barrel.
** 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
From TradersCommunity Research