API Crude Oil Stock Change
Published:
This is a weekly estimate of the change in U.S. crude oil inventories reported by the American Petroleum Institute. A positive number means stocks rose, while a negative number means stocks fell.
Full explanation
API's Weekly Statistical Bulletin is a survey-based petroleum report covering U.S. crude inventories, refinery operations and major petroleum products. The crude oil stock change is watched as an early private-sector inventory signal before the U.S. Energy Information Administration's official weekly petroleum data. It is an oil-market indicator rather than a broad macroeconomic release.
Why traders watch it
Crude inventory surprises can move oil prices, energy equities and inflation-sensitive assets, with spillovers to USD and commodity-linked currencies.
Stronger vs weaker outcomes
A larger-than-expected draw may suggest tighter crude supply and could support oil prices. A larger-than-expected build may suggest looser supply and could weigh on oil prices.
Typical volatility
API data are not the official government inventory series and can differ from the EIA report; refinery runs, imports, exports and SPR-related factors can also affect the weekly change.
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