Newsletter

U.S. EIA Crude Oil Inventories

May, 24 2023

-12.456M

-0.920M

5.040M

The Energy Information Administration (EIA) Crude Oil Inventories tracks the weekly change in the quantity of commercial crude oil owned by US companies. Inventory levels affect the price of petroleum products, which may have an effect on inflation. If the rise in petroleum stocks is more than anticipated, it indicates a decline in demand, which is negative for crude prices. The same holds true if a drop in inventory is less than anticipated.

Release Date

Time

Actual

Forecast

Previous

May 24, 2023

22:30

-12.456M

-0.920M

5.040M

May 17, 2023

22:30

5.040M

-0.920M

2.951M

May 10, 2023

22:30

2.951M

-0.917M

-1.280M

May 03, 2023

22:30

-1.280M

-1.100M

-5.054M

Apr 26, 2023

22:30

-5.054M

-1.486M

-4.581M

Apr 19, 2023

22:30

-4.581M

-1.088M

0.597M

Apr 12, 2023

22:30

0.597M

-0.583M

-3.739M

Apr 05, 2023

22:30

-3.739M

-2.329M

-7.489M

Mar 29, 2023

22:30

-7.489M

0.092M

1.117M

Mar 22, 2023

22:30

1.117M

-1.565M

1.550M

Mar 15, 2023

22:30

1.550M

1.188M 

-1.694M

Mar 08, 2023

23:30

-1.694M

0.395M

1.165M

Mar 01, 2023

23:30

1.165M

0.457M

7.648M

Feb 24, 2023

23:30

7.648M

2.083M

16.283M

Feb 15, 2023

23:30

16.283M

1.166M

2.423M

Feb 08, 2023

23:30

2.423M

2.457M

4.140M  

Feb 01, 2023

23:30

4.140M

0.376M

0.533M

Jan 25, 2023

23:30

0.533M

0.971M

8.408M

Jan 20, 2023

00:00

8.408M

-0.593M

18.962M

Jan 11, 2023

23:30

18.962M

-2.243M

1.694M

Jan 06, 2023

00:00

1.694M

1.154M

0.718M

Dec 30, 2022

00:00

0.718M

-1.520M

-5.894M

Dec 21, 2022

23:30

-5.894M

-1.657M

10.231M

Dec 14,2022

23:30

10.231M

-3.595M

-5.187M

Dec 07,2022

23:30

-5.187M

-3.305M

-12.580M

Nov 30,2022

23:30

-12.580M

-2.758M

-3.691M

Nov 23,2022

23:30

-3.691M

-1.055M

-5.400M

Nov 16,2022

23:30

-5.400M

-0.440M

3.925M

Nov 09,2022

23:30

3.925M

1.360M

-3.115M

Nov 02,2022

22:30

-3.115M

0.367M

2.588M

Oct 26,2022

22:30

2.588M

1.029M

-1.725M

0ct 19, 2022

22:30

-1.725M

1.380M

9.880M

0ct13, 2022

23:00

9.880M

1.750M

-1.356M

0ct 05, 2022

22:30

-1.356M

2.052M

-0.215M

Sep 28, 2022

22:30

-0.215M

0.443M

1.142M

Sep 21, 2022

22:30

1.142M

2.161M

2.442M

Sep 14, 2022

22:30

2.442M

0.833M

8.844M

Sep 08, 2022

23:00

8.844M

-0.250M

-3.326M

Aug 31, 2022

22:30

-3.326M

-1.483M

-3.282M

Aug 24, 2022

22:30

-3.282M

-0.933M

-7.056M

Aug 17, 2022

22:30

-7.056M

-0.275M

5.458M

Aug 10, 2022

22:30

5.458M

0.073M

4.467M

Aug 03, 2022

22:30

4.467M

-0.467M

-4.523M

Jul 27, 2022

22:30

-4.523M

-1.037M

-0.446M

Jul 20, 2022

22:30

-0.446M

1.357M

3.254M

Jul 13, 2022

22:30

3.254M

-0.154M

8.235M

Jul 07, 2022

23:00

8.235M

-1.043M

-2.762M

Jun 29, 2022

22:25

-2.762M

-0.569M

-0.386M

Jun 15, 2022

22:30

1.956M

-1.314M

2.025M

Jun 08, 2022

22:30

2.025M

-1.917M

-5.068M

Jun 02, 2022

23:00

-5.068M

-1.350M

-1.019M

May 25, 2022

22:30

-1.019M

-0.737M

-3.394M

May 18, 2022

22:30

-3.394M

-1.383M

8.487M

May 11, 2022

22:30

8.487M

-0.457M

1.302M

May 04, 2022

22:30

1.302M

-0.829M

0.692M

Apr 27, 2022

22:30

0.692M

2.000M

-8.020M

Apr 20, 2022

22:30

-8.020M

2.471M

9.382M

Apr 13, 2022

22:30

9.382M

0.863M

2.421M

Apr 06, 2022

22:30

2.421M

-2.056M

-3.449M

May, 31, 2023 22:30

weekly

What is OPEC+ and how is it different from OPEC?

The Organization of the Petroleum Exporting Countries, also known as OPEC, was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela. The organization has since expanded to 13 members. OPEC regularly meets to set oil production targets and coordinate output to help manage global oil prices for the entire group.
In 2016, largely in response to dramatically falling oil prices driven by significant increases in U.S. shale oil output, OPEC signed an agreement with 10 other oil-producing countries to create what is now known as OPEC+. Among these 10 countries was the world’s third-largest oil producer in 2022, Russia, which produced 13% of the world total (10.3 million barrels per day [b/d])........

Data source: U.S. Energy Information Administration, Oil and petroleum products explained

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