extra to come back
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Expectations I had seen centred on:
Headline crude 0 mn barrels (ie no change, which appears peculiar, and do observe there are different surveys of expectations)
Distillates -0.1 mn bbls
Gasoline -1.4 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 services and corporations
- The official report is due Wednesday morning US time.
The 2 studies are fairly completely different.
The official authorities knowledge comes from the US Vitality Info Administration (EIA)
- Its based mostly on knowledge from the Division of Vitality and different authorities companies
- 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, akin to mild, medium, and heavy.
- the EIA report is held to be extra correct and complete than the survey from the API
