February 01, 2023 08:26 GMT
What to Watch: JMMC, EIA & FOMC
- The latest Genscape European ARA crude inventories will be released today at 09:00GMT. Stocks were last week up at 56.01mbbls and the average for this time of year is 52.47mbbls.
- The EIA weekly petroleum inventory data is due for release this afternoon at 15:30GMT. Crude stocks are expected to show a small draw following on from the builds in recent weeks according to a Bloomberg survey although API yesterday showed another build. Gasoline inventories are expected to build and distillates inventories to show a draw.
- OPEC’s JMMC meeting today is due to start at 14:00 CET. No production target changes are expected.
- The US Fed rate decision is expected at 19:00 GMT. The central bank is expected to raise rates by 25 basis points to 4.75%.