United States EIA Crude Oil Imports

Info

History

Chart

Impact:

Low

Source: U.S. Energy Information Administration

Latest Release:

Date:

Actual:

-0.595M

Forecast:

Previous/Revision:

1.776M

Period: Jan/10

What Does It Measure?

The United States EIA Crude Oil Imports measure the volume of crude oil imported into the U.S. on a monthly basis, focusing on the level of reliance on foreign oil supplies and assessing trends in the domestic energy market, production capacity, and overall economic activity. Key indicators include total import volumes, sources of oil imports, and variations from previous months, providing a national indicator that reflects energy security and trade balances.

Frequency

This data is released weekly, typically on Wednesdays, and presents both preliminary estimates and definitive figures, with revisions made available in subsequent reports.

Why Do Traders Care?

Traders monitor EIA Crude Oil Imports as they directly impact oil prices and broader financial markets, influencing commodities, currencies, and energy stocks. A rise in imports may signal increased demand or potential oversupply, making it significant for refining margins and overall economic health, thereby affecting market forecasts and investment decisions.

What Is It Derived From?

The EIA derives this data from comprehensive surveys of refineries and industry associations, collecting information on trade volumes and import origins. The data employs statistical methods to ensure accuracy, integrating various sources such as customs data and industry reports to provide a reliable snapshot of import trends.

Description

Preliminary reports present initial estimates based on early responses, which are subsequently refined in the final reports to reflect thorough analysis and additional data collected. This reporting primarily focuses on Month-over-Month (MoM) changes, allowing traders to assess short-term fluctuations and identify any abrupt shifts in supply dynamics.

Additional Notes

This indicator is considered a leading measure of economic activity, particularly pertinent to the energy sector and its influence on gasoline prices and consumer spending. Comparisons with domestic production metrics and other energy-related reports can provide deeper insights into overall energy market trends and geopolitical influences.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for USD, Bearish for Oil Stocks. Lower than expected: Bearish for USD, Bullish for Oil Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Time	Actual	Forecast	Previous	Surprise
Jan 15, 2020		-0.595M		1.776M
Jan 08, 2020		1.776M		-1.522M