Oil Inventory Vs. Oil Price

 When oil inventories rise, this means there is a glut in oil. The oil price will go down.

Oil inventories can be compared to the oil price to assess the valuation.

Macro-economic indicators from the EIA should be monitored.

• Refinery net production
• Weekly oil production
• Weekly oil stock levels
• Distillate demand
• Global oil supply and demand
• Baker Hughes rig count
• Weekly supply of petroleum products

Make sure to check the uranium price because uranium is a leading indicator for oil.
Make sure to check the GDP outlook from the Atlanta Fed.