API is the abbreviation of American Crude Oil Association, and it is a non-governmental organization. It will release last week's crude oil inventory data, including crude oil, gasoline and distilled oil, at 4: 30am Beijing time every Wednesday (5: 30am in winter). These data can reflect the consumption of oil in the United States in the past week, thus indicating the economy and inflation, which will have a certain impact on future oil prices and the US dollar.

Generally speaking, the decrease of API crude oil inventory indicates that crude oil consumption in economic activities is high, which is beneficial to oil prices.

The increase in API crude oil inventory may be that the economy is less than expected, resulting in a backlog of crude oil and negative oil prices.

API data is published before EIA crude oil inventory, so many people in the industry use API data to predict EIA crude oil inventory, which is actually accurate.

As far as the impact of API and EIA on oil prices is concerned, the former is private and the latter is official, but both of them are authoritative and accurate, and both of them can set off huge waves in the crude oil market. If we have to compare, the latter is more influential.

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