Wednesday, January 7, 2015

EIA Petroleum Status Report - 10:30 am


Unusually large product builds headline the weekly petroleum status report that otherwise shows a 3.1 million barrel draw in oil inventories to 382.4 million for the January 2 week. In contrast, gasoline inventories increased by 8.1 million barrels with distillate inventories up by 11.2 million. Products supplied to the wholesale sector over the last 4 weeks have been very heavy with gasoline up a year-on-year 5.5 percent and distillates up 7.2 percent. The levels of product inventories point ahead to decreasing refinery production and easing demand for oil. WTI is down nearly $1 to $47.75 in initial reaction to today's report. 


The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.  Why Investors Care

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