There are two petroleum inventory reports released within the U.S. One is from the American Petroleum Institute (API), and thus the other is from the U.S. Energy Information Administration (EIA). The API is a national trade association, whereas the EIA is that the workplace of the U.S. Federal Statistical System and a neighbourhood of the U.S. Department of Energy of the two weekly reports, the EIA report is more highly revered.


● The API is an industry group that represents American companies involved in producing, refining, and distributing petroleum and petroleum products. Its report is out there only to members. It currently has over 600 members, which contain companies altogether facets of the refining industry, from exploration and production to marketing and provide. The API was established in 1919 and works in offering research and setting industry standards, from “drill bits to environmental protection.”
● From 1929, the API produced the Weekly Statistical Bulletin. This report contains a mess of data, reporting on “total U.S. Crude and regional crude inventories and data associated with refinery operations, also because of the assembly, imports, and inventories of the four major petroleum products: motor gasoline, kerosene jet fuel, distillate heating oil, and residual heating oil .” The products listed account for quite 80% of total refinery production.
● The API collects the info “at-will” from members and non-members. Typically the info sent to the EIA is additionally sent as a reproduction to the API, utilizing equivalent forms. Consistent with the American Petroleum Institute, both the agencies confirm that the weekly data they receive accounts for about 90% of the industry. The rest of the ten is forecasted by both agencies. The robust disclosures that the EIA data includes have led analysts and traders to believe that the EIA’s data is more accurate than the API’s.
● The API data is usually seen as an introduction to the EIA data, as it’s released on the evening before the EIA report. However, there’s a relationship between the 2 data sets. The Weekly Statistical Bulletin report is released every Tuesday at 4:30 p.m. Eastern Time. If the Monday before could even be a Federal holiday, the report is released on Wednesday.


● The Energy Information Administration is an independent agency that collects, analyzes, and disseminates energy information within the U.S to plug sound policy making, efficient markets, and public and policymaking energy and its interaction with the economy and thus the environment. It’s the foremost government authority for energy statistics. However, unlike the API, the EIA doesn’t actively lobby for any policy changes.
● The Energy Information Administration publishes its Weekly Petroleum Status Report on Wednesdays at Ten Thirty a.m. Eastern Time, but after a Monday holiday, it’s released on Thursday. The EIA report provides information on the availability of oil and thus the extent of inventories of petroleum and refined products. In addition, the report contains many various sections on many multiple products weakened by regions, prices, estimates, and stocks.
● The Energy Information Administration requires significant oil companies to finish their oil inventory surveys. It includes a full disclosure for noncompliance or intentional wrongdoing, and there are civil penalties for failure to file accurate and timely data.


● Everyone seems to agree that the major significant difference between the EIA and API reports stems from how the info is collected.
● API surveys are optional, whereas an accurate completion of the Energy Information Administration surveys is mandatory and enforced by law, noted Jason Schenker, an economist at Wachovia Corp.
● Survey participation from U.S. companies is additionally high for the API, with a mean sample coverage of about 90%, consistent with John Felmy, director of policy, analysis and statistics at the API.
● Another vital distinction between the two reports lies in respondent samples, said Alverson. as an example, “one major refiner which operates over ten refineries doesn’t report back to the API but does to the EIA,” he said.
● Felmy agreed that the samples are different, but it’s “simply not true” that the government’s survey has better coverage, he said.
● “You have coverage problems,” he said, whether would-be respondents are required to report or not.

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