more to come
—
The expectations I saw focused on:
- Headline oil -0.2 million barrels
- Distillates +0.6 million bbls
- Gasoline +1.5 mn
—
This data is from private research by the American Petroleum Institute (API).
- It is an exploration of oil storage facilities and companies
- The official report is due to be released on Wednesday morning US time.
The two reports are quite different. Official government data comes from the US Energy Information Administration (EIA)
- It is based on data from the Ministry of Energy and other government agencies
- While information on total crude oil storage levels and changes from the previous week’s levels is provided in the API report, the EIA report also provides statistics on refinery inputs and outputs, as well as other important indicators of the state of the oil market. , and storage levels for different types of crude oil, such as light, medium and heavy.
- An EIA report is considered more accurate and comprehensive than an API survey
This article was written by Eamonn Sheridan at www.forexlive.com.
Source link