EIA Crude Oil Stocks Change
What is EIA Crude Oil Stocks?
The EIA Weekly Petroleum Status Report, published every Wednesday by the US Energy Information Administration, provides data on US crude oil and petroleum product inventories, production, imports, and refinery utilization. The headline figures most watched by markets are the change in crude oil stockpiles (in barrels) at Cushing, Oklahoma — the main US delivery hub — and across all domestic storage.
Why does it matter for investors?
Crude oil inventories directly influence WTI crude oil prices, which feed into US gasoline prices and energy CPI. A larger-than-expected draw (inventory decrease) signals strong demand or supply constraints and is bullish for oil prices. A larger-than-expected build (inventory increase) is bearish. Energy companies (XOM, CVX, OXY) and refiners are directly affected, and the data can move broader equity markets when moves are extreme.
What to watch for
- ›Crude oil stockpile change vs. consensus and prior week API estimate
- ›Cushing, Oklahoma inventory level (WTI delivery hub)
- ›Gasoline and distillate (diesel) inventory changes
- ›Refinery utilization rate (high utilization = strong demand signal)
- ›US crude production level (weekly output trend)
What is the difference between EIA and API oil inventory data?
The API (American Petroleum Institute) releases private inventory estimates on Tuesday evening, a day before the official EIA report. The EIA data is considered more authoritative. Markets often react to both — first to the API as a preview, then to the official EIA.
When is the EIA Crude Oil inventory report released?
The EIA Weekly Petroleum Status Report is released every Wednesday at 10:30 AM ET (or Thursday if Monday was a federal holiday).
Market Reaction
QQQ & SPY price change ±5 trading days around this event
Source: Yahoo Finance