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Inventory Data Today Ahead of OPEC Meeting Tomorrow

ENERGY
Energy - what to watch
  • The latest OPEC meeting takes place this week. A report in the Wall Street Journal late yesterday suggested the possibility of a target exemption for Russia leading to the potential of increased output from other members. What previously looked likely to be a routine meeting could now change future supply estimations. Comments from delegates will be closely watched ahead of the meeting tomorrow.
  • After the US holiday at the start of the week the API data will be released a day delayed tonight at 16:30 EST. Refined products markets have resumed their rally this week, so product inventories remain of interest. The EIA data is also delayed by a day and will be published tomorrow afternoon.
  • Also released today will be the European crude inventories. Stocks have followed the seasonal increase over recent weeks and last week showed levels in the middle of the 5-year range at 56.67mbbl.

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