By way of oilprice.com on twitter:
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Expectations I had seen centred on:
- Headline crude +2.7mn barrels
- Distillates -2.1 mn bbls
- Gasoline -1.5 mn
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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 firms
The official report is due Wednesday morning US time. The 2 studies are fairly completely different. The official authorities knowledge comes from the US Power Info Administration (EIA):
- Its based mostly on knowledge from the Division of Power and different authorities businesses
- Whereas info on complete crude oil storage ranges and variations from the earlier week’s ranges are each offered by the API report, the EIA report additionally offers 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, equivalent to mild, 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.
