Weekly Petroleum Status Report

Weekly Petroleum Status Report
Name	Weekly Petroleum Status Report
Publisher	U.S. Energy Information Administration
First	1980s
Frequency	Weekly
Format	Statistical report
Country	United States

Weekly Petroleum Status Report

The Weekly Petroleum Status Report is a statistical publication produced by the U.S. Energy Information Administration that summarizes short‑term trends in petroleum production, consumption, imports, exports, inventories, and refining activity. It is widely used by analysts at the U.S. Department of Energy, traders at New York Mercantile Exchange, policy staff at the White House, researchers at Brookings Institution, and journalists at outlets such as the Wall Street Journal and Financial Times to assess market balances and short‑term price drivers. The report interfaces with datasets from agencies like the Bureau of Labor Statistics and international organizations such as the International Energy Agency, and it complements publications including the EIA Monthly Energy Review and the EIA Short-Term Energy Outlook.

Overview

The report provides weekly snapshots of petroleum markets, integrating field data from producers like ExxonMobil, Chevron Corporation, and ConocoPhillips with terminal and pipeline statistics tracked by companies such as Kinder Morgan and Enterprise Products Partners. Analysts compare figures against futures curves on venues like the Intercontinental Exchange and macro variables reported by the Federal Reserve and the U.S. Census Bureau. The publication plays a role alongside corporate filings from BP, Royal Dutch Shell, and TotalEnergies and regulatory filings with the Securities and Exchange Commission to form a comprehensive near‑real‑time view of supply and demand.

Coverage and Data Sources

Data sources include weekly surveys of refiners and blenders, input from terminal operators at hubs such as Cushing, Oklahoma and ports including Port of Houston, and customs flows reported by the U.S. Customs and Border Protection. The report incorporates production data from fields in the Permian Basin, Eagle Ford Shale, and Bakken formation, and shipping movements recorded by vessel trackers that monitor tankers active on routes via the Strait of Hormuz, Malacca Strait, and around the Cape of Good Hope. International context draws on data shared by national agencies like Saudi Aramco and Rosneft and organizations such as the Organization of the Petroleum Exporting Countries and the International Monetary Fund.

Report Contents and Metrics

Key metrics include crude oil production, refined petroleum product supply, refinery utilization, gasoline and distillate inventories, imports and exports, and product supplied to end users. The metrics are often compared week‑over‑week and year‑over‑year and are analyzed alongside price benchmarks like Brent crude, West Texas Intermediate, and products priced on the Aframax or VLCC tanker segments. Users cross‑reference the report with shipping indices such as the Baltic Exchange and financial indicators from Standard & Poor's and Moody's Investors Service to evaluate credit and market risk. The dataset is complemented by time series used in academic studies at institutions like Columbia University and Massachusetts Institute of Technology.

Publication Process and Schedule

The report follows a fixed weekly release schedule produced by analysts within the U.S. Energy Information Administration who compile submissions from respondents including refiners registered with the American Petroleum Institute and storage operators connected to the Commodity Futures Trading Commission reporting network. Releases are timed to precede trading sessions on exchanges such as the New York Stock Exchange and coordinated with other releases like the EIA Natural Gas Weekly Update and governmental statistical products from the Bureau of Economic Analysis. The methodology undergoes periodic review informed by consultations with stakeholders including International Energy Agency advisers and academic reviewers from Harvard University.

Uses and Impact on Markets

Market participants use the report to inform positions in crude and product futures on the New York Mercantile Exchange and in over‑the‑counter swaps brokered through firms such as Energy Aspects and Schroders. Policymakers reference the data when considering measures that affect strategic reserves like the U.S. Strategic Petroleum Reserve and during coordination with allies at forums like the Group of Seven and G20 summit. Media coverage by outlets including Reuters, Bloomberg News, and The Economist often cites the weekly figures when reporting price movements tied to events such as OPEC+ meetings, sanctions actions involving Iran or Venezuela, or natural disasters like Hurricane Katrina that affect refining capacity.

Historical Trends and Revisions

Historical series in the report document structural shifts including the rise of shale production in the United States and the evolution of global trade patterns influenced by projects like the Trans‑Alaska Pipeline System and pipeline networks such as Nord Stream. Revisions follow statistical best practices and may be informed by retrospective adjustments from agencies including Energy Information Administration counterparts in the United Kingdom and Canada. Long‑run users analyze the series alongside major events—such as the 1973 oil crisis, the Gulf War, and the COVID‑19 pandemic—to understand demand shocks and supply responses that have shaped storage levels, refining throughput, and price benchmarks.

Category:Energy publicationsCategory:Petroleum industry