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: 8/16/17
Release Time: Wednesday 23 August 2017 – 10:30 ET
Note in bbls *exp = Reuters poll est except Cushing
Refinery Utilization Prior –.2% to 96.1%
Production +0.3% w/w 9.528mbpd vs 9.502mbpd prior
Crudeoil Inventory Change – “This” week in prior years
DOE Estimates via @EnergyBasis
Crude Production – Oil Rigs – Crude Futures
Total US RigCount
EIA Prep via @DigStic
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 atfutures settle at $47.83/bbl. +$0.30. +0.63%;
API via Marketwatch
By Myra P. Saefong @MktwSaefong
API data reportedly show fall in U.S. crude supply, rise in gasoline stockpiles:
Oil prices edged lower late Tuesday after the American Petroleum Institute reported that U.S. crude supplies fell 3.6 million barrels for the week ended Aug. 18, but gasoline stockpiles unexpectedly climbed by 1.4 million barrels, according to sources. The API data also showed that inventories of distillates rose nearly 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 3.7 million barrels in crude inventories. October crude CLV7, +0.21% was at $47.63 a barrel in electronic trading, down from the new front-month contract’s settlement of $47.83 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