By way of Twitter:
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Expectations I had seen centred on:
- Headline crude -0.6mn barrels
- Distillates +0.1 mn bbls
- Gasoline -0.05mn
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This knowledge level is from a privately-conducted survey by the American Petroleum Institute (API):
- It is a survey of oil storage amenities and corporations
The official report is due Wednesday morning US time. The 2 reviews are fairly totally different. The official authorities knowledge comes from the US Power Data Administration (EIA):
- Its primarily based on knowledge from the Division of Power and different authorities businesses
- Whereas data on whole crude oil storage ranges and variations from the earlier week’s ranges are each offered by the API report, the EIA report additionally supplies statistics on inputs and outputs from refineries, in addition to different important indicators of the standing of the oil market, and storage ranges for varied grades of crude oil, reminiscent of gentle, medium, and heavy.
- the EIA report is held to be extra correct and complete than the survey from the API
This text was written by Eamonn Sheridan at www.forexlive.com.
