EIA Crude Oil Stocks Change
- Location: United States
- Currency: USD
This event starts in:
EIA Crude Oil Stocks Change is included in the weekly report issued by the Energy Information Administration of the US Department of Energy. It presents the number of barrels of commercial crude oil held by US companies.
EIA includes this report into Weekly Petroleum Status Report (WPSR) along with other information on supplies, stocks and prices for crude oil and principal petroleum products. It is a reliable source of current information on the energy industry used by manufacturers, press, policy makers, consumers and analysts, as well as state and local authorities. The report data describe supply and disposition of crude oil and petroleum products in the United States and large US regions.
The report is compiled based on data submitted by all companies, which can store at least 1000 barrels of crude oil. They include:
- All pipeline companies (local and state), including interstate, domestic and local pipelines
- Crude oil producers (oil companies)
- Terminal operators
- Crude oil storers (except refineries)
- Companies transporting Alaskan crude oil by water in other states and the District of Columbia
Increase of US crude oil stocks can indicate a decrease in demand for crude oil or increase in production. Such an increase negatively affects global oils prices, though it is a short-term effect. A downward trend is only formed in the market if crude oil stocks increase steadily for several weeks in a row.
