API is the crude oil inventory data released last week after sampling survey by the largest oil and gas trade association in the United States, and it is released at 04:30 every Wednesday morning. It is a guide to the US EIA crude oil inventory data, but it is not an official data. API will not have a particularly great impact on oil prices, if there are no major data anomalies or there is a big difference between the values before and after.

Influence of API on crude oil

API crude oil inventory is API gravity (API) crude oil inventory, and API gravity publishes the crude oil inventory level reported by US crude oil, gasoline and distilled oil inventory 1600 every Tuesday. This data shows how much oil stocks and products there are now, and you can know how long the supply will last. Moreover, the data shows the US oil demand by product and region, and also monitors the US crude oil production, crude oil imports and refined oil.

When crude oil stocks increase, it shows that there is an oversupply of crude oil in the market, which leads to a drop in oil prices and a rise in the dollar.

When the crude oil inventory decreases, it shows that the market demand for crude oil is strong, which leads to the rise of oil prices and the fall of the US dollar.

API data

What is API data? The density of oil is often expressed in API degrees in the United States, which is contrary to the international density.

API =141.5/sg60/60 ℉-131.5, and the density of water at 60℉( 15.6℃) =0.99904g/cm3.

Therefore, the API degree is contrary to the international density, and the oil with high API is actually the light oil with low density.