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: 8/9/17
Release Time: Wednesday 16 August 2017 – 10:30 ET
Note in bbls *exp = Reuters poll est except Cushing
Refinery Utilization –.2% to 96.1%
Production +79 to 9,502 Mb/d
DOE Estimates via @EnergyBasis
Crude Production – Oil Rigs – Crude Futures
Total US RigCount
EIA Prep via @DigStic
RonH @Ronh999 Refinery Runs
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%.
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
From TradersCommunity Research