Measure of inventories of crude oil stored for future use. The figure relies on the Energy Information Administration's Monthly Crude Oil Report which surveys companies that store 500 or more barrels of crude oil. Because companies with smaller stores are excluded, the figure systematically underestimates actual crude oil stores. Nonetheless, the report is significant as changes in crude oil inventories provide insight into oil demand and prices.

A significant decrease in inventories suggests the supply of oil is possibly strained, which puts upward pressure on oil prices. Any increase in oil prices will act as an inflationary pressure as increased oil prices are fed through the economy. But because any affects of Oil Stocks would take some time to feed through the economy, the report typically does not affect the market.

The figure is reported monthly, either in thousands of barrels per month or as a percentage change from the previous month.

Relevance: Rarely affects markets
Release Schedule: 10:00 AM (EST); monthly, one week after the reporting month's ` end
Revisions Schedule: Little or no revisions
Source of Report: Energy Information Administration, Official Energy Statistics (U.S)
Web Address: (no set address)
Address of release:http://tonto.eia.doe.gov/dnav/pet/pet_stoc_typ_d_nus_SAE_mbbl_m.htm
AKA: Crude Oil Inventories