EIA American Resource Statistics Association (EIA) is an energy information organization under the US Department of Energy and Electric Power, and it is an official organization. At present, traders in the market and world-renowned power consulting institutions all choose EIA inventory data.

Why is EIA so important?

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, a rise in the dollar and a fall in gold.

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

The change of crude oil inventory actually reflects the attitude of the US government towards oil prices. If the strategic crude oil inventory increases significantly, it shows that the US government recognized the oil price at that time, so it will increase the strategic crude oil inventory to compete for crude oil capital, thus intensifying the contradiction between supply and demand, leading to an increase in oil prices. or vice versa, Dallas to the auditorium

Therefore, the difference between EIA crude oil inventory and OPEC crude oil inventory is that EIA has a more direct and greater impact on the US dollar exchange rate.