Traders uncertain about impact on decision-making

  • The U.S. government is changing the way it collects data on the oil market
  • Traders are uncertain about how these changes will affect their decision-making
  • The changes will require certain condensates and ‘other oils’ to be reported in total oil inventory figures
  • The result of this change is expected to be higher oil inventories
  • The U.S. Energy Information Administration has identified ways in which it has been overstating disposition and understating supply
  • The agency is implementing changes in three phases to improve its accounting of petroleum supply and disposition
  • The EIA has been attempting to evolve with the new ways that oil is being produced
  • The agency is still making changes and experiencing intermittent disruptions to data availability

The U.S. government is implementing changes to the way it collects data on the oil market, causing uncertainty among traders who rely on government reports. The changes will require certain condensates and ‘other oils’ to be reported in total oil inventory figures, resulting in higher inventories. The U.S. Energy Information Administration has identified discrepancies in its estimates of supply and disposition and is making efforts to improve accuracy. The agency is implementing changes in three phases to enhance its accounting of petroleum supply and disposition. However, the agency is still making changes and experiencing intermittent disruptions to data availability.

Factuality Level: 7
Factuality Justification: The article provides information about changes to the U.S. Energy Information Administration’s data collection process and how it may affect oil inventories. It includes quotes from experts and information from the EIA itself. However, there are some tangential details and repetitive information that could have been omitted.
Noise Level: 6
Noise Justification: The article provides some information about changes to the U.S. Energy Information Administration’s data collection process and how it may affect oil inventories. However, there is some repetition and the article does not provide a thorough analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: The changes to the U.S. Energy Information Administration’s data collection process may impact traders who use the agency’s reports to make key decisions in the oil market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses changes to the data collection process of the U.S. Energy Information Administration, which could have implications for traders in the oil market. However, there is no mention of any extreme events or their impact.
Public Companies: U.S. Energy Information Administration (N/A)
Private Companies: Sevens Report Research,The Price Futures Group
Key People: Tyler Richey (Co-editor at Sevens Report Research), Phil Flynn (Senior Market Analyst at The Price Futures Group)

Reported publicly: www.marketwatch.com