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Oil - private survey of inventory shows headline crude oil draw vs build expected

The data is a day later than normal this week due to the US holiday on Monday.

The numbers via oilprice.com on Twitter:

--

Expectations I had seen centred on:

  • Headline crude +0.1 mn barrels
  • Distillates +0.2 mn bbls
  • Gasoline +0.6 mn

---

This data point is from a privately-conducted survey by the American Petroleum Institute (API).

  • It's a survey of oil storage facilities and companies
  • The official report is due Wednesday morning US time.

The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)

  • Its based on data from the Department of Energy and other government agencies
  • Whereas information on total crude oil storage levels and variations from the previous week's levels are both provided by the API report, the EIA report also provides statistics on inputs and outputs from refineries, as well as other significant indicators of the status of the oil market, and storage levels for various grades of crude oil, such as light, medium, and heavy.
  • the EIA report is held to be more accurate and comprehensive than the survey from the API
This article was written by Eamonn Sheridan at www.forexlive.com.




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In Georgia, OSCE PA Special Representative calls for calm in advance of elections, deplores shooting at administrative boundary line

TBILISI, 27 May 2016 – The OSCE Parliamentary Assembly’s Special Representative on the South Caucasus Kristian Vigenin (MP, Bulgaria), today concluded a two-day visit to Georgia.

The Special Representative met with Georgian President Giorgi Margvelashvili, Chairman of the Georgian Parliament David Usupashvili, and Foreign Minister Mikheil Janelidze, as well as Members of the OSCE PA delegation and representatives of various political forces in the country. Vigenin also participated in events commemorating the 25th anniversary of the restoration of Georgia’s independence.

“In just 25 years, Georgia has achieved a great deal, and I look forward to seeing what further progress the next 25 years will bring,” said the Special Representative. He noted that the upcoming OSCE PA's 25th Annual Session to be held in Tbilisi, 1-5 July, is an opportune moment for Georgia to demonstrate its achievements to hundreds of parliamentarians from across the OSCE region.

“With parliamentary elections later this year, this is a sensitive period. Following incidents of violence against opposition leaders a few days ago during the local by-elections, a thorough and transparent investigation is necessary. While it is the government’s responsibility to hold those responsible accountable, I also call on all political forces to act with restraint in the coming months so that the October elections can take place in a calm and peaceful environment,” said the Special Representative, encouraging all efforts aimed at consolidating democratic progress.

Interlocutors welcomed OSCE observation of the parliamentary elections, expected on 8 October.
Vigenin discussed a range of security challenges faced by Georgia, and visited the Administrative Boundary Line in Khurvaleti, where the de facto authorities of South Ossetia have erected barbed wire fences dividing the village.

“The recent killing of a Georgian citizen in Khurcha, at the Administrative Boundary Line, is a reminder of the significant security challenges Georgia continues to face. I condemn this shooting unconditionally, and expect that those responsible will be brought to justice,” said Vigenin.

Reports indicate that on 19 May at the Khurcha-Nabakevi crossing point on the Administrative Boundary Line, armed men crossed from the Abkhaz side of the bridge and carried out the fatal shooting.

The Special Representative’s visit to Georgia follows meetings earlier this week in Armenia. He continues his travels with a visit to Azerbaijan today where high-level meetings are expected.

Vigenin was appointed Special Representative by OSCE PA President Ilkka Kanerva in February 2016. In his mandate, he is tasked with promoting dialogue in all segments of society, in particular at the parliamentary level, in order to encourage reconciliation and rehabilitation with regard to the protracted conflicts in the region.
This week’s visit is his first visit to the region as Special Representative.

Vigenin is a former Foreign Minister of Bulgaria and currently serves as Deputy Head of the OSCE PA’s Bulgarian Delegation.

To watch a recent interview in which he discusses his priorities as Special Representative, please click here

For photos of Vigenin's visit to the region, click here.

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