EIA Oil Inventories -8945k Crude Draw Gasoline +22k Build #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 StorageDOE Weekly Petroleum Status Report: 8/9/17
Release Time: Wednesday 16 August 2017 – 10:30 ET

 ActualExpectedPrior EIAAPI
Crude -8945k -3100k-6451k -9155
Cushing +678k +648k+569k +1711k
Gasoline +45k -1100k+3424k +301k


-1729k -2074k

Note in bbls *exp = Reuters poll est except Cushing  

Refinery Utilization .2% to 96.1%

Production +79 to 9,502 Mb/d

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


 Refinery Runs

US oil refineries at 96.3% utilization. Highest of 2017 

US oil input to refineries last week was highest of 2017 


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 $47.55/bbl. -$0.04. -0.08%. _U7 


API via Marketwatch 
By Myra P. Saefong @MktwSaefong

Oil climbs as sources say API data show U.S. crude supply down more than 9 million barrels

Oil prices climbed late Tuesday after the American Petroleum Institute reported that U.S. crude supplies dropped 9.2 million barrels for the week ended Aug. 11, according to sources. The API data also showed a rise of 301,000 barrels in gasoline supplies, while inventories of distillates were down 2.1 million 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 3.6 million barrels in crude inventories. September crude CLU7, +0.29% was at $47.80 a barrel in electronic trading, up from the contract’s settlement of $47.55 on the New York Mercantile Exchange.


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


Further Crude Oil Analysis #OOTTNews

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