US Oil Inventories: API Data Differs from EIA Projections

An American Petroleum Institute (API) survey has reported conflicting data on US oil inventories, highlighting differences with the official report from the US Energy Information Administration (EIA). While the API survey had predicted a crude increase of 1.8 million barrels, the EIA report showed a much smaller increase of 528,000 barrels. Furthermore, the API survey’s projections for distillates (-0.9 million barrels) and gasoline (-1.4 million barrels) also diverged from the EIA’s reported declines of 1.2 million barrels and 1.3 million barrels, respectively.

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