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ENERGY: What to Watch: API Inventories Data & IEA Oil Report

ENERGY
  • IEA are due to release the updated Oil Market Report at 10:00 CET following the downward demand revision shown by the OPEC MOMR yesterday. The IEA report covers major supply and demand issues and provides an outlook for crude oil market developments for the coming year.
  • The API US oil inventory data is due at 16:30ET ahead of the EIA Weekly Petroleum Status Report tomorrow. US crude oil inventories are expected to have fallen by 2mbbl in the week to Aug. 2, according to a Reuters survey which would be the seventh consecutive draw. Gasoline and distillates are also expected to draw.

 

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