Insight into the Private Survey of Oil Inventory and Its Implications
Private Survey of Oil Inventory
The private survey by the American Petroleum Institute (API) indicates a draw in headline crude oil.
Expectations centered on:
- Headline crude 0 mn barrels (no change)
- Distillates -0.1 mn bbls
- Gasoline -1.4 mn
The API report differs from the official government report by the US Energy Information Administration (EIA), providing insights into oil storage levels and company data.
Differences in Reports
The EIA report, considered more accurate, includes statistics on refinery inputs and outputs, along with storage levels for various crude oil grades.
EIA: Data from Department of Energy and government agencies
API: Focus on total storage levels and variations
The comparison highlights the nuances between the two reports, impacting market assessments and decisions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.