The Difference Between API and EIA Crude Oil Storage Reports

API (American Petroleum Institute) and EIA (Energy Information Administration) are two organizations that publish weekly reports on crude oil storage levels in the United States. The API report is based on data collected from a survey of oil storage facilities and is published on Tuesday afternoons, while the EIA report is based on data from the previous week and is released on Wednesday mornings. The report may be issued on a different date if a holiday falls during the week.

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One key difference between the two reports is the sources of the data they use.

The API report is based on a survey of oil storage facilities and companies, while the EIA report is based on data from the Department of Energy and other government agencies. This means that the EIA report is generally considered to be more accurate and comprehensive than the API report.

Another difference is the level of detail provided in the two reports.

The API report provides information on total crude oil storage levels, as well as changes in storage levels from the previous week. The EIA report also includes information on storage levels for specific types of crude oil, such as light, medium, and heavy, as well as data on refinery inputs and outputs and other key indicators of the state of the oil market.

Overall, the API and EIA crude oil storage reports are both important sources of information for market participants and analysts, and both can provide valuable insights into the supply and demand dynamics of the oil market.

Source: API, EIA

From The TradersCommunity Research Desk