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What to Watch: OPEC MOMR, US CPI & API Data

ENERGY
  • The OPEC Monthly Oil Market Report is due for release today (at 13:45CET last month) with member compliance with pledged cuts and a potential market surplus in focus. The IEA Oil Market Report is due out on Feb 15.
  • The US CPI data due at 08:30 ET. Consensus puts core CPI inflation at 0.3% M/M in January with mild risk seen to the downside, for a very similar reading to December after Friday’s annual revisions.
  • The API oil inventory data is due at 16:30 ET ahead of the EIA Weekly Petroleum Status Report tomorrow. The EIA data last week showed a build in crude as well as gasoline and distillates stock draws and a Reuters survey suggests another crude build of 2.6mbbl in the week to Feb 9.

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