{"id":11269,"date":"2022-01-27T19:19:19","date_gmt":"2022-01-27T16:19:19","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=11269"},"modified":"2023-10-17T15:37:00","modified_gmt":"2023-10-17T12:37:00","slug":"how-to-use-eia-oil-report-in-trading","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2022\/01\/27\/how-to-use-eia-oil-report-in-trading\/","title":{"rendered":"How to Use EIA Oil Report in Trading"},"content":{"rendered":"\n

This overview is devoted to the weekly EIA report about the situation in the oil market that influences the quotations of black gold<\/a> quite a lot. Many traders keep a close eye on this publication and use the information in trading.<\/p>\n\n\n\n

<\/span><\/a>What is the EIA report<\/span><\/h2>\n\n\n\n

Energy Information Administration (that EIA stands for) is a department of the US Ministry of Energy created in 1977. It is responsible for objective collection of energy data, analysis, and economic forecasts. The department regularly publishes various reports on the topics around energy. Among them, there are reports on energy carriers reserves, demand for them, and prices.<\/p>\n\n\n\n

The United States are not only the largest consumer of oil<\/a> (consuming about 20% of global oil) but also the leading oil producer. The supply and demand balance in the USA gives a rough idea of the oil market on the whole. Traders, investors, and other market participants follow attentively oil statistics from the USA. Publication of these data is quite often followed by serious market volatility<\/a>.<\/p>\n\n\n\n

One of the most popular EIA reports is the weekly report on the state of the oil market called This Week In Petroleum. This report is published every Wednesday and contains comments on changes in oil reserves, demand, and other parameters of crude oil<\/a> and oil products. If there are some unexpected major changes about crude oil and petroleum in the report, the market might react dramatically.<\/p>\n\n\n\n

Fresh data, economic forecasts, and EIA reports are available online at the official EIA website https:\/\/www.eia.gov\/<\/a>.<\/p>\n\n\n\n

\"Main<\/a>
Main EIA website page<\/em><\/figcaption><\/figure>\n\n\n\n

<\/span><\/a>Which info is there in the report?<\/span><\/h2>\n\n\n\n

Investors and oil traders study the EIA report very carefully to use the data for forecasting the behaviour of prices for energy carriers. Analysts from energy companies also use the report to collect data that help them develop long-term business strategies.<\/p>\n\n\n\n

The information published in the EIA report:<\/p>\n\n\n\n