API's Weekly Statistical Bulletin
Where traders around the world get their data
Since 1929, API’s Weekly Statistical Bulletin (WSB) has reported total U.S. and regional crude inventories and data related to refinery operations, as well as the production, imports, and inventories of the four major petroleum products: motor gasoline, kerosene jet fuel, distillate fuel oil, and residual fuel oil. These products represent more than 80 percent of total refinery production. The WSB also reports on the production, imports, and inventories of several subcategories of these products as well as imports and inventories of unfinished oils, crude oil imports and production, and refinery input and capacity data.
Facts versus Myths
Don’t quote the myths, get the facts!
Myth: API only collects data from its members.
Fact: API collects data from members and non-members.
Myth: API’s WSB is an estimate while EIA’s report is a census.
Fact: Neither API nor EIA collect 100% of the data. Both publish estimates every week.
Myth: Sometimes respondents give API incomplete data.
Fact: API collects an exact copy of the data submitted to EIA. Respondents send data to API using the same weekly survey forms that EIA uses.
Myth: As reporting to API is voluntary, its estimates should be taken with a grain of salt.
Fact: It is true that companies voluntarily send API a copy of the data they send to EIA; however, the fact that they do so voluntarily is irrelevant. Both API and EIA are on record stating that their reported weekly data cover roughly 90% of the industry. Since API and EIA need only estimate the remaining 10%, differences in their weekly estimates can be largely attributed to statistical noise.
Myth: API’s WSB estimates are not accurate.
Fact: Both API and EIA publish extremely accurate estimates every week. In fact – when looking at recent data for Crude, Gasoline, and Distillate stocks – the monthly estimates are within 1% of each other about 70% of the time. To verify API’s WSB data accuracy, we urge analysts and reporters to compare our WSB to the definitive numbers published in the EIA’s Petroleum Supply Monthly.
Gaining Access to the WSB
API makes its reports available solely via subscription purchase through our authorized distributor, Thomson Reuters.
- Existing Thomson Reuters customers, please contact your Thomson Reuters account representative or its help desk at 1-800-738-8377 to subscribe to the API WSB.
- New customers interested in subscribing to the reports, please visit the Commodities area of the Thomson Reuters website, and click the "Contact Sales" button.
API provides the timeliest reports of this data available anywhere. The weekly reports are scheduled for release every Tuesday afternoon at 4:30 pm Eastern. If Monday is a Federal holiday, the reports are scheduled for release on Wednesday afternoon.
For additional information please contact us by e-mail at firstname.lastname@example.org if you would like more information about API's Weekly Statistical Bulletin (WSB).