What time is the API report released?

What time is the API report released?

approximately 4:30 pm API provides the timeliest reports of this data available anywhere. Except as otherwise noted in the schedules below, the weekly reports are scheduled for release every Tuesday afternoon at approximately 4:30 pm Eastern. If Monday is a Federal holiday, the reports are scheduled for release on Wednesday afternoon.

What is the API report?

The American Petroleum Institute (API) and the U.S. Energy Information Administration (EIA) both provide weekly crude oil inventory reports. Oil inventory reports are indicators of the supply and demand for oil which impacts oil prices. The API is a trade association whereas the EIA is a governmental agency.

What is API in energy?

The American Petroleum Institute (API) is the largest U.S. trade association for the oil and natural gas industry. ... The association describes its mission as to promote safety across the industry globally and influence public policy in support of a strong, viable U.S. oil and natural gas industry.

What time is oil report today?

10:30 a.m. When monitoring supply, energy traders pay particular attention to the weekly U.S. Energy Information Administration (EIA) Petroleum Status Report, which reports on U.S. crude oil inventories, both domestically and abroad. This report is released by EIA each Wednesday at 10:30 a.m. Eastern Time.

What does API stand for in crude oil?

American Petroleum Institute API gravity is a commonly used index of the density of a crude oil or refined products. API stands for the American Petroleum Institute, which is the industry organization that created this measure.

What is an API for data?

API is the acronym for Application Programming Interface, which is a software intermediary that allows two applications to talk to each other. Each time you use an app like Facebook, send an instant message, or check the weather on your phone, you're using an API.

How much oil do we have left?

There are 1.65 trillion barrels of proven oil reserves in the world as of 2016. The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

Is higher API oil better?

API gravity of crude oil grades Higher API indicates a lighter (lower density) crude. Lower API indicates a heavier (more dense) crude. Generally, lighter (high API) crudes are more valuable because they yield more high-value light products when run through a refinery.

How is oil API calculated?

The formula for API gravity is API = (141.5/SG) -131.5 where SG is the specific gravity of the petroleum liquid being measured. For example, for an API gravity of 50, add 131.5 to obtain 181.5. Divide 141.5 by (131.5 + API gravity) to obtain the specific gravity of the oil.

What is REST API example?

For example, a REST API would use a GET request to retrieve a record, a POST request to create one, a PUT request to update a record, and a DELETE request to delete one. All HTTP methods can be used in API calls. A well-designed REST API is similar to a website running in a web browser with built-in HTTP functionality.

What are 2 types of APIs?

🔗 Web APIs
  • 🔗 Open APIs. Open APIs, also known as external or public APIs, are available to developers and other users with minimal restrictions. ...
  • 🔗 Internal APIs. In contrast to open APIs, internal APIs are designed to be hidden from external users. ...
  • 🔗 Partner APIs. ...
  • 🔗 Composite APIs. ...
  • 🔗 REST. ...
  • 🔗 JSON-RPC and XML-RPC. ...
  • 🔗 SOAP.