 Following the previous videos in this video I'm going to explain the factors that can influence the crude oil price. The last factor that I'm going to explain is supply and demand statistics. Any information or report that can give some information about the production or consumption of crude oil and also its distillate product can cause an impact, can cause a price change. There are a variety of reports being published by governmental entities both U.S. and international as well as industry associations. These reports are good sources to predict the behavior of the crude oil price. EIA, Energy Information Administration from the U.S. Department of Energy, issues a report on the status of countries inventory of crude oil and its various distillates. This report is being published every Wednesday at 9.30 a.m. and it has several pieces of key supply and demand statistics. I'm going to explain some of the items that are included in this report. First, refinery utilization. The percentage of total U.S. refinery capacity that is running indicates both demand for crude oil as well as production of gasoline. The two is the import reports both raw crude oil and refined products such as gasoline. They are imported and volumes are compared to last year which could be indicators of improving or worsening the balance. The other part of report includes commercial crude oil inventory. The change in inventory from one week to the next week has profound impact on crude oil prices from a trading standpoint. Analysts provide forecasts for the change in inventory ahead of the actual report and financial and energy commodity traders react to the difference between the forecasted and actual report. The other piece of information that is included in the report is gasoline inventories. Total gasoline products as well as breakdown between finished gasoline and blending products give a picture of supply and demand for gasoline. A decrease in total product could mean more demand for refinery fitted stocks. Surplus could mean just opposite. If there is an inventory it means that there will be more supply to the market and price won't go up then they potentially could go down. Information about this lit fuel is also included in EIA inventor report which in this category is mainly about heating oil and as explained earlier a cold winter a cold weather low temperature means higher demand for heating oil and if there is low inventory if there is low stretch it can be translated to low shortage of supply and a higher prices in the cold days.