Oil: private survey of inventory shows headline crude oil build vs. draw expected


Via oilprice.com on Twitter:

Expectations I had seen centred on:

  • Headline crude -1.3mn barrels
  • Distillates -1.4mn bbls
  • Gasoline -0.5 mn

This data point is from a privately-conducted survey by the American Petroleum Institute (API).

  • It’s a survey of oil storage facilities and companies
  • The official report is due Wednesday morning US time.

The two reports are quite different.

The official government data comes from the US Energy Information Administration (EIA)

  • Its based on data from the Department of Energy and other government agencies
  • Whereas information on total crude oil storage levels and variations from the previous week’s levels are both provided by the API report, the EIA report also provides statistics on inputs and outputs from refineries, as well as other significant indicators of the status of the oil market, and storage levels for various grades of crude oil, such as light, medium, and heavy.
  • the EIA report is held to be more accurate and comprehensive than the survey from the API
Later this year,
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.



  • Related Posts

    European Central Bank President Lagarde says important to sustain global cooperation
    • June 11, 2025

    The European Central Bank and the People’s Bank of China have signed a Memorandum of Understanding on cooperation Christine Lagarde, President of the European Central Bank (ECB), and Pan Gongsheng,…

    Continue reading
    "China heading towards a 4.5 day work week" (2.5 day weekend) is doing the rounds again
    • June 10, 2025

    This idea has been floated multiple times over past years. Its getting a redo in the headlines again today. Sichuan province city Mianyang is considering a 2.5-day weekend businesses to…

    Continue reading

    Random News

    The Return of 2024 YR4: The Asteroid Once Threatening Earth Now Poised for Close Call With the Moon in 2032 – U.S. News & World Report

    • By gonews
    • June 11, 2025
    • 1 views

    Apple is salvaging Image Playground with a boost from ChatGPT

    • By gonews
    • June 11, 2025
    • 1 views
    Apple is salvaging Image Playground with a boost from ChatGPT

    Printable 2025 Arizona Cardinals Schedule; Matchups and TV Broadcasts

    • By gonews
    • June 11, 2025
    • 2 views
    Printable 2025 Arizona Cardinals Schedule; Matchups and TV Broadcasts

    Israel’s Experiment: Abu Shabab’s Criminal Militia Targeted by Gaza Resistance

    • By gonews
    • June 11, 2025
    • 1 views
    Israel’s Experiment: Abu Shabab’s Criminal Militia Targeted by Gaza Resistance