EIA Says Wednesday's Weekly Oil Report to Include Delayed Data
By Dan Molinski
Closely-watched weekly government data on U.S. oil inventories
that wasn't released last week due to electrical problems will
instead be released this Wednesday at the same time as this week's
report, the Energy Information Administration said Tuesday.
"We will publish the Weekly Petroleum Status Report tomorrow,
June 29, at its regularly scheduled time," the Washington-based
government agency said. "That release will include the data for the
week ending June 17, which would have been published June 22, and
the data for the week ending June 24."
An EIA spokesperson added in a follow-up email that "the release
tomorrow will come as one report, but it will have the data
separated out for June 17 and June 24...the table will look the
same as it would have."
The rare, extended delay in releasing the weekly data was due to
a "voltage irregularity" that caused hardware failures, the EIA
said Tuesday. In Wednesday's statement it said it is still having
"ongoing issues" for other data.
The oil inventory report normally is released like clockwork and
investors view the data itself as extremely reliable and unaffected
by politics. It is seen as an invaluable tool for investors in
energy markets to gauge supply and demand balances that play a key
role in crude-oil prices and share prices for oil companies.
By doubling up on the oil inventory data Wednesday, the move
should put the EIA back on track as far as the oil inventory
reports are concerned. But it is unclear when other delayed reports
will also get back up to speed. Those would include reports that
track and assess retail diesel prices. The lack of that data has
been a problem for the trucking industry which uses it in applying
and adjusting surcharges.
Write to Dan Molinski at email@example.com
(END) Dow Jones Newswires
June 28, 2022 10:22 ET (14:22 GMT)
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