The EIA Crude Oil Inventories report is a weekly release by the U.S. Energy Information Administration showing changes in U.S. crude oil stockpiles. Rising inventories suggest oversupply and can push oil prices lower, while declining inventories signal higher demand.
Example
“WTI crude oil jumped $2 per barrel after the EIA report showed a drawdown of 7 million barrels, far exceeding the expected 2 million barrel decline, signaling stronger-than-expected demand.”