EIA Petroleum Status Report

EIA Petroleum Status Report

The EIA Petroleum Status Report is published every Wednesday by the Energy Information Administration (EIA), an agency within the U.S. Department of Energy. The EIA Petroleum Status Report details the existing U.S. stocks of crude oil, as well as the inventory levels of refined petroleum products such as gasoline, heating oil, and diesel fuel. The basis for production data come from the closing prices for the specific day indicated. The Tables section of the report offers weekly supply estimates, Data within this section can be further broken down by geographic region, as prices in New England can differ meaningfully from those in Alaska, or the Lower Atlantic states. Also, the report details the per-gallon prices of West Texas Intermediate crude, regular unleaded gasoline, No. 2 heating oil, and propane. The main highlights section of the report breaks down crude-oil inputs to the refineries, the capacity utilization of those refineries, and the amount of new gasoline and distillate production.

What is the EIA Petroleum Status Report

The EIA Petroleum Status Report is published every Wednesday by the Energy Information Administration (EIA), an agency within the U.S. Department of Energy. It details the level of crude-oil reserves that the U.S. holds, as well as the amount of crude and related products it produces, both domestically and abroad.

BREAKING DOWN EIA Petroleum Status Report

The EIA Petroleum Status Report details the existing U.S. stocks of crude oil, as well as the inventory levels of refined petroleum products such as gasoline, heating oil, and diesel fuel. The main highlights section of the report breaks down crude-oil inputs to the refineries, the capacity utilization of those refineries, and the amount of new gasoline and distillate production.

Typically, the report also includes a table with the net imports, or total U.S. imports minus exports, of both crude and petroleum products. Also, the report details the per-gallon prices of West Texas Intermediate crude, regular unleaded gasoline, No. 2 heating oil, and propane.

The price of crude is determined by supply and demand technicals, as is the case with other commodities. When reserves drop, prices will rise and vice versa. Therefore, the EIA Petroleum Status Report is a reflection of current crude-oil price trends. The writers of the report do not try to interpret the fundamental drivers of those trends.

Investment analysts and futures traders will study the report, and use its data to make projections regarding energy prices and production levels. Similarly, some analysts who work for energy companies will use the news to glean data from the report to help inform their long-term strategy and business decisions. The media also frequently uses the EIA report in reporting about the energy industry and prices which directly affect consumers, such as heating oil and gasoline.

Details of the Petroleum Status Report

The U.S. Energy Information Administration makes the status report available from its website. Users may review the report using online tools which include analysis and projections by topics and data sorted by category. The full report is available in PDF format and as an exportable Microsoft Excel and comma-separated-value (CSV) spreadsheet for further analysis.

Related terms:

Capacity Utilization Rate

Capacity utilization rate measures the percentage of potential output levels that is being achieved. It can identify the slack in production. read more

Closing Price

Even in the era of 24-hour trading, there is a closing price for a stock or other asset, and it is the last price it trades at during market hours. read more

Crude Oil & Investing Examples

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. read more

Downstream

Downstream operations are oil and gas functions that occur after the production phase to the point of sale. Read how downstream companies make money.  read more

Energy Information Administration (EIA)

The Energy Information Administration (EIA) is a government agency responsible for collecting energy data, conducting analysis and making forecasts. read more

Oil Refinery

An oil refinery is an industrial plant that refines crude oil into petroleum products such as diesel, gasoline and heating oils. read more

Shale Oil

Shale oil is a type of oil found in shale rock formations that must be hydraulically fractured to extract. Read about the pros and cons of shale oil. read more

Upstream

Upstream refers to the exploration and production stages in the oil and gas industry. Upstream is followed by the midstream and downstream segments.  read more

West Texas Intermediate (WTI)

West Texas Intermediate is the underlying commodity of the New York Mercantile Exchange's oil futures contract and one of the main global oil benchmarks. read more