EIA Delays Crucial Oil Production Report Amid Operational Glitch
The US Energy Information Administration (EIA) has delayed publication of its Petroleum Supply Monthly report for June, citing an operational issue affecting how its back end and public facing systems interact. The report was originally due on August 31 but will now appear sometime in September, with the EIA declining to give a firm date.
The delay comes at a critical time, with the Strategic Petroleum Reserve sitting at its lowest level in 44 years and renewed US-Iran fighting disrupting shipping through the Strait of Hormuz. The EIA's Weekly Petroleum Status Report continues on schedule, but it does not provide the same level of detail as the delayed report.
The Petroleum Supply Monthly is the government's only breakdown of domestic output by state and region, making its delay particularly significant for traders and policymakers.
In related news, private sector surveys show a headline crude oil draw greater than expected, but analysts are likely to lean more heavily on these reports until the delayed EIA report lands.