Breaking News

U.S. Crude Oil Inventories

Latest Release

Nov 22, 2023

Actual

8.701M

Forecast

1.160M

3.592M

The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

Importance:

Country:

Currency: USD

Source: Energy Information Administrat...

Release Date	Time	Actual	Forecast	Previous
Nov 29, 2023	15:30			8.701M
Nov 22, 2023	15:30	8.701M	1.160M	3.592M
Nov 15, 2023	15:30	3.600M	1.793M	13.869M
Nov 15, 2023	15:29	13.869M		0.774M
Nov 01, 2023	14:30	0.774M	1.261M	1.371M
Oct 25, 2023	14:30	1.371M	0.239M	-4.491M

News

Crude oil settles lower ahead of OPEC+ meeting By Investing.com - 20 hours ago

Investing.com -- Oil prices settled lower Monday as traders looked ahead to a virtual OPEC+ meeting this week that will set the trajectory of oil output into next year. By 14:30 ET (19:30 GMT), the...

European stocks edge lower in thin trading; German GDP fell in Q3 By Investing.com - Nov 24, 2023

Investing.com - European stock markets traded marginally lower Friday after weak German growth data, although trading volumes are limited with few overnight cues on account of a U.S. market...

Crude oil set for first positive week in 5; OPEC + meeting in focus By Investing.com - Nov 24, 2023

Investing.com -- Oil prices traded in a mixed fashion Friday after the U.S. holiday during the previous season, with traders looking to next week’s OPEC+ meeting for more news about future production...

Analysis

Commodities Week Ahead: Oil in Wary Trading, Eyes Iran Role in Mideast War By Barani Krishnan - Oct 16, 2023 1

Iran pushing itself front and center in Israel-Hamas crisis Market eyeing US crude supply too, after last week’s stock build/record exports Q3 growth number awaited from top oil importer China That...

Oil Prices Surge, Set Sights on $100: What's Fueling the Rally? By Calogero Selvaggio - Sep 04, 2023 1

Looks like oil bulls are back in charge, targeting $100 per barrell The energy sector is on the verge of rallying along with oil prices Chevron and ExxonMobil could lead the charge higher Oil prices...

Commodities Week Ahead: After July, OPEC Will Fight to Keep Oil Up By Barani Krishnan - Jul 31, 2023 1

Keeping the oil rally going will be OPEC’s challenge as Fed warily watches inflation Fed will likely go back to aggressive rate hikes if inflation spikes from pricier oil Higher inflation could...

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All Comments (2)

Kashim Barick Oct 29, 2023 0:59

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Inventories appear to have little to no impact on oil price movement. I back tested charts for the past 4 months and the day when the inventories news is released, there is little to no movement in price, in fact, a drop in inventories appears to result in a drop in oil price - go ahead and check the charts to see for yourself

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Milos Savic Jan 17, 2018 9:09

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Are we going to see a record drop of inventories this time around? More than -8M? Any thoughts?

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