American Petroleum Institute (API) crude oil inventory data result
For the week ended November 6
- US crude stock inventory rise 6.3 million bbls ... much larger than expected
- Stocks at Cushing up 2.5 million barrels
Higher imports of oil offsetting increased refinery runs
- Refinery crude runs rose by 193,000 barrels/day
- Imports rose by 198,000 bpd
More:
- Gasoline stocks down 3.2 million barrels
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Note - The American Petroleum Institute data is out earlier to their subscribers (at 4.30pm ET) and released publicly at 4.35pm ET
- The API data is closely watched as a guide to the EIA data due Wednesday morning (US time), but Thursday morning this week due to the Veterans Day holiday
- The consensus estimate for the EIA report is currently for a stock build of 790.91K bbls
