EIA Crude Oil Inventory Report

What is EIA?

The abbreviation EIA stands for The U.S. Energy Information Administration. The EIA gathers, examines, and broadcasts independent and neutral energy information to uphold sound policymaking, well-organized markets, and public perceptive of energy and its communication with the economy and the environment.

What is the chief objective of Energy Information AdministrationEIA?

The Energy Information Administration (EIA) has offered a variety of information and data products casing energy production, stocks, demand, imports, Experts, and prices. EIA organizes investigation and publishes special reports on topics of current interest.

What is the impact of the EIA Crude oil inventory report on the market?

EIA’s Crude Oil Inventories compute the weekly changes in the number of barrels of commercial crude oil held by US firms.

The level of inventories pressures the price of petroleum products, which can have an impact on inflation.

suppose crude oil inventories have increased more than the expected, it will entail weaker demand and is bearish for crude prices and also can be said if as a turndown in inventories is less than expected.

If the increase in crude is less than expected, it entails greater demand and is bullish for crude prices and the same can be said if a turn down in inventories is more than expected.

For Example: Previous inventory report

Release Date Time Actual Forecast Previous
23-May-18 20:00 5.778M -1.567M -1.404M
16-May-18 20:00 -1.404M -0.763M -2.197M
9-May-18 20:00 -2.197M -0.200M 6.218M
2-May-18 20:00 6.218M 0.739M 2.170M
25-Apr-18 20:00 2.170M -1.600M -1.071M
18-Apr-18 20:00 -1.071M -0.500M 3.306M
11-Apr-18 20:00 3.306M -0.600M -4.617M
4-Apr-18 20:00 -4.617M 1.400M 1.643M
28-Mar-18 20:00 1.643M -0.287M -2.622M
21-Mar-18 20:00 -2.622M 2.600M 5.022M
14-Mar-18 20:00 5.022M 2.023M 2.408M

The above statistics of the previous week’s inventory report depicts the demand and supply of the crude prices. Here based on this report, we get a clear picture of the momentum. When the demand is more, the momentum is at its peak and when the supply is more, it indicates that the momentum has come down.

Crude oil Inventory weekly report schedule:

Crude oil inventory is scheduled on Wednesday every week 8 P.m (IST). In case Wednesday is a holiday, its release is delayed by one day.

Future Holiday rescheduled:

Data for the week ending Alternate Release Date Release Day Release Time Holiday
25-May-18 31-May-18 Thursday 20:00 PM Memorial
29-Jun-18 5-Jul-18 Thursday 20:00 PM Independence
31-Aug-18 6-Sep-18 Thursday 20:00 PM Labor
5-Oct-18 11-Oct-18 Thursday 20:00 PM Columbus
9-Nov-18 15-Nov-18 Thursday 20:00 PM Veterans
21-Dec-18 28-Dec-18 Friday 20:00 PM Christmas
28-Dec-18 4-Jan-19 Friday 20:00 PM New Year's

With the help of the holiday schedule, one can decide when and how to anticipate the proceedings of the news in the market.