EIA crude oil inventory data is released at 22:30 every Wednesday night (23:30 in winter time).
The relationship between API and EIA:
API crude oil inventory data can show the economic situation of countries consuming crude oil-related products, and also have a value impact on the US dollar. Because API crude oil inventory is published earlier than EIA, it is usually used to predict EIA. According to statistics, the same direction rate of API and EIA is as high as 8 1%, so it is known as the most reliable prediction data of EIA.
EIA crude oil inventory data mainly shows the quantity of crude oil inventories in the United States this week, which directly reflects the supply and demand of crude oil. Therefore, it has a great impact on oil prices and crude oil futures, spot crude oil, gasoline, diesel and other fuels, emerging spot asphalt and other markets, and the US dollar index and related exchange rates will also be affected.