INSTITUTIONS AND OTHER BACKGROUND INFORMATION
What is the API?
The American Petroleum Institute (API) is the largest US trade association, mainly focused on all segments of America’s natural gas and oil industry. When it comes to financial markets, the focus is on the weekly Crude Oil Stocks reports, which provides information about the country’s provision of oil and its derivatives. The level of stockpiles provides hints on the demand for crude oil in the country. Hence, it could affect the price of the commodity, but also indicate the state of the general economy. Large stockpiles indicate limited or decreasing demand while contracting accumulation hints at an increased activity and a generally better economic performance.