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For over six years now, my weekly Investing.com column—over 300 and counting—has provided readers with analyses on what's moving oil markets. Today's piece is a bit of a departure. I thought it might be useful for readers if I offer a list of some of the free resources I regularly use to follow the sector, in addition to the great tools available on Investing.com.
Of course, my Thursday columns will continue providing analyses, pointing out crucial information and explaining what it means.
The EIA website offers some of the best and wide-ranging accumulation of data. The website is updated regularly with new information.
As well, the experts at the Department of Energy are constantly developing new tools to track energy information in the U.S. Keep in mind that much of this data is U.S.-focused, but it also offers some global data.
Also, the EIA website covers all forms of energy, not just oil. One tip: the data is sometimes old, so make sure to check the date on the page to ensure you are getting the most current information.
Some helpful tools on the site include:
The OPEC website provides a variety of data and forecasts prepared by OPEC, which is based in Vienna.
Here are some useful resources to be found on the website:
The IEA recently changed its website, and unfortunately it's now very difficult to navigate. It can be challenging to find the data you may be seeking.
The best option might be to do a web search and include the term “IEA” as a key word. The IEA covers all energy, not just oil.
Platts is a for-profit journalistic corporation. It publishes vital data for free on a regular basis, but you can also purchase additional data and analyses from them.
Monthly, Platts offers a survey of OPEC and OPEC+ production.
API is an industry trade group. I find the most useful free data from API to be the monthly statistical report from API’s chief economist, Dr. R. Dean Foreman. It can be found here. Each month, in advance of this report, Dr. Foreman appears on the Energy Week podcast that I co-host, which you can find here.
The API also provides a useful Industry Outlook report every quarter.
On social media, Twitter is the best option for following data and analytical insights on the oil market. Here are some of my favorite accounts to follow:
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