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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchUse a repeatable three-part check: record EIA’s Brent and WTI spot-price series, read the latest U.S. Weekly Petroleum Status Report for physical supply data, then use the newest EIA Short-Term Energy Outlook (STEO) and IEA Oil Market Report (OMR) for market context. Add OPEC’s statistical tables when you need producer-country data. This combination separates a quoted price from the benchmark behind it, distinguishes measured data from estimates and forecasts, and tests whether a reported outage is changing flows and inventories.
Start with a defined question, not a generic “oil price”
Oil is traded through multiple benchmarks, locations, contracts and time periods. A useful record therefore names the benchmark, delivery location, price basis, unit and period. EIA’s spot-price data distinguish West Texas Intermediate (WTI) at Cushing, Oklahoma, from Brent for Europe. They are not interchangeable indicators, and neither should be reported simply as “the oil price.”
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Before copying a number into a spreadsheet or article, write down:
- Benchmark and location: Brent for Europe or WTI at Cushing, for example.
- Price basis: spot price or a futures contract, including the contract month when relevant.
- Unit: dollars per barrel (or the unit shown by the source).
- Period: the date of a daily observation, or the month, week or year represented by an average.
- Status: observed, estimated, revised or forecast.
EIA explains that its weekly, monthly and annual spot-price values are unweighted averages of daily closing spot prices. An average is therefore a summary of the daily closes in that period, not a volume-weighted transaction price and not a forecast.
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Use EIA’s two spot series consistently
Brent for Europe
EIA’s daily series is named Europe Brent Spot Price FOB and uses the identifier RBRTE in the EIA Open Data browser. Record the date and the reported dollars-per-barrel value. The series supports daily observations as well as weekly, monthly and annual views.
WTI at Cushing
EIA’s daily series is named Cushing, OK WTI Spot Price FOB and uses the identifier RWTC. Its location is Cushing, Oklahoma, so it reflects a different physical and logistical market from Brent for Europe.
What the difference means
| Attribute | Brent series | WTI series |
|---|---|---|
| Series definition | Europe Brent Spot Price FOB | Cushing, OK WTI Spot Price FOB |
| EIA identifier | RBRTE | RWTC |
| Location represented | Europe benchmark | Cushing, Oklahoma |
| Available views | Daily, weekly, monthly and annual | Daily, weekly, monthly and annual |
| Average construction | Unweighted average of daily closing spot prices for the selected period | Unweighted average of daily closing spot prices for the selected period |
A widening or narrowing spread between the two can reflect regional logistics, crude quality, inventories, transportation constraints or changes in the grades that feed each benchmark. It does not by itself prove that global supply has risen or fallen.
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No single publication answers every oil-market question. Use each source for the scope and cadence it actually covers.
| Source | Best use | Geographic and commodity scope | Cadence or status |
|---|---|---|---|
| EIA spot-price table | Consistent Brent and WTI spot observations | Brent for Europe and WTI at Cushing | Daily series with weekly, monthly and annual views; period averages are unweighted daily closes |
| EIA Weekly Petroleum Status Report | Near-term U.S. supply-and-disposition changes | U.S. and petroleum administration district views; crude and major petroleum products | Weekly estimates, including four-week averages where available |
| EIA monthly Petroleum Supply data | More detailed U.S. supply, disposition and historical comparisons | U.S. crude and petroleum products | Monthly data, with annual final data also available |
| EIA Short-Term Energy Outlook | Dated analysis and forecasts of U.S. and global oil markets | Global oil markets with U.S. government analysis | Forecast publication; use the release date and forecast period |
| IEA Oil Market Report | Global supply, demand, inventories, prices, refining and trade | IEA members and selected non-IEA countries | Periodic report containing data, forecasts and analysis |
| OPEC Annual Statistical Bulletin | Producer-country and regional context | OPEC members, participating countries and other country and regional groupings | Annual statistical tables and related announcement figures |
Keep the publication name beside every value. “Weekly EIA production” and “IEA world supply” are not comparable labels: they differ in geography, timing and whether the number is an estimate, an observation or a forecast.
Build a small monitoring routine
Daily: capture the benchmark prices
- Open EIA’s spot-price table or Open Data browser.
- Retrieve
RBRTEandRWTCas separate series; never combine them into one “oil” column. - Save the observation date, value, unit, series name and source location in your log.
- Mark missing observations rather than filling them with the previous day’s price.
- When publishing a daily change, state whether you are comparing closing spot values and identify both dates.
For a weekly, monthly or annual statement, use EIA’s corresponding period view or calculate an average only after confirming that you are using the same series and a clearly defined date range.
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After each weekly EIA release: check physical indicators
- Record the change in U.S. commercial crude stocks.
- Record domestic production, refinery inputs and refinery utilization when relevant to the question.
- Record crude and product imports, exports and product supplied.
- Check days of supply and the available four-week averages to reduce the effect of one unusual week.
- Label the entries as weekly estimates and retain the reporting week.
The weekly report’s value is the combination of indicators. A price jump accompanied by falling stocks and reduced imports suggests a different situation from a price jump with stable stocks and unchanged flows. Neither pattern proves causation by itself, so use the report as a physical cross-check rather than a stand-alone explanation.
Monthly: add broader analysis
- Read the latest STEO and write down its release date, forecast horizon and any revisions.
- Read the latest IEA OMR for global supply, demand, inventories, refining and trade context.
- Use the monthly EIA Petroleum Supply data when you need a deeper U.S. supply-and-disposition history than the weekly estimates provide.
- Consult the OPEC Annual Statistical Bulletin for its stated producer-country scope, especially when comparing national production or exports.
Replace forecasts and dated market assessments when a newer edition is released. Do not carry an old forecast forward as if it were a current observation.
Investigate a disruption with a flow-and-duration checklist
An attack, outage or shipping restriction is an event report, not proof of a lasting global shortage. To test its market significance, create an event record with these fields:
- Affected asset or route: pipeline, terminal, refinery, tanker route, field or export facility.
- Start time: when the disruption was announced or observed.
- Reported volume: barrels per day or another stated unit, with the source’s qualification.
- Geography: local, national, regional or global scope.
- Evidence status: measured flow, company or government estimate, or early unverified report.
- Trade and flow response: export changes, rerouting, refinery intake changes or shipment delays.
- Inventory response: crude and product stocks, days of supply and subsequent revisions.
- Price response: Brent and WTI spot changes, with dates and the benchmark identified.
- Expected duration: stated restoration time, uncertainty and each subsequent update.
IEA’s market reporting emphasizes that the eventual effect depends on how long a disruption persists. A brief outage can produce a sharp price reaction that fades as flows resume; a prolonged loss of exports can alter inventories, refinery runs and trade patterns over several reporting cycles. Recheck the event after the next weekly data release and again when monthly analysis is published.
How to read forecasts, estimates and observations
Observed prices
EIA’s spot series are historical price observations. The period average is calculated from daily closing spot prices, so it should be presented with the period and benchmark.
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EIA’s weekly petroleum figures are estimates. They are useful for timely direction, but later monthly or annual data can differ because of revisions and different collection methods. Preserve the weekly label when comparing a weekly stock change with a monthly total.
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Forecasts
STEO is a dated forecast and analysis publication. Put the edition date and forecast period beside every number taken from it. When updating a dashboard or article, replace the old forecast with the latest edition instead of treating the prior estimate as a current fact.
Global analysis
The IEA OMR combines data, forecasts and commentary. Identify whether a sentence refers to a reported month, a forecast period or an interpretation of market expectations. Its country coverage includes IEA members and selected non-IEA countries, not every country in every table.
Dated examples: how attribution changes the meaning
EIA STEO example from October 6, 2026
EIA’s October 6, 2026 STEO reported that Brent spot averaged $114 per barrel in September, $23 per barrel above August. The report connected the move with attacks on oil infrastructure and tankers, including an attack on Saudi Arabia’s East-West pipeline. EIA estimated that the pipeline had been carrying more than 5.0 million barrels per day to Yanbu before the attack and said Brent reached $131 per barrel on September 15.
These are figures and assessments in that dated STEO edition. They are not an independent real-time verification and should not be presented as a current price or current flow without checking a newer release.
IEA example from February 2026
IEA’s February 2026 OMR reported that world oil supply fell by 1.2 million barrels per day in January to 106.6 million barrels per day amid severe winter weather and outages or export constraints. It also said North Sea Dated crude rose $10 per barrel over January as geopolitical tensions and supply disruptions changed market expectations.
The month, report edition and units are essential. Those figures describe conditions at that point in time; they are not a permanent estimate of world supply or a substitute for the next report.
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OPEC producer-export example
In its 2026 bulletin announcement, OPEC reported that petroleum-product exports from OPEC member countries averaged 5.31 million barrels per day during 2025. The scope is petroleum products from OPEC members. It is not a measure of crude exports and not a measure of total global exports.
Automate retrieval without losing definitions
EIA’s API browser supports queries for the petroleum spot-price branch. EIA’s documentation says the documented API commands require a valid API key and use a separate URI for each command. Follow the current API v2 documentation and query-browser instructions when implementing a script; do not hard-code an undocumented endpoint copied from an old example.
At minimum, an automated job should:
- Request
RBRTEandRWTCseparately. - Store the series identifier, full series name, unit, observation date and retrieval timestamp.
- Keep the API key outside source code, such as in the runtime’s secret store.
- Record the query parameters and response status so a failed request is visible.
- Retain the raw response or a checksum before transforming values.
- Flag revisions and missing dates instead of silently overwriting history.
Automation improves consistency, not authority. A perfectly scheduled script can still mix Brent with WTI, spot with futures or an estimate with a forecast if the metadata are discarded.
Create a source log that survives updates
For every number, retain these fields in a spreadsheet or database:
- Source organization and publication title.
- Series name or table name.
- Benchmark, location and commodity scope.
- Observation or reporting period.
- Publication or release date.
- Value and unit.
- Observed, estimated or forecast status.
- Revision note, if the source supplies one.
- Why the value is relevant to the event or question being tracked.
Use a separate row for each benchmark and period. For example, a September Brent average and a September WTI average are two records, not two cells under a generic “oil price” label. Keep weekly U.S. estimates separate from monthly final data so a later revision does not erase the original context.
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Common mistakes and how to correct them
Calling one benchmark “the oil price”
Fix: name Brent or WTI, include the location and state that the value is spot or futures.
Using a price move as proof of lost supply
Fix: check production, refinery inputs, imports, exports, stocks, days of supply and product supplied in the EIA data, then examine the next release for persistence.
Mixing weekly and monthly numbers
Fix: preserve the reporting period, cadence and estimate status. Compare like with like before drawing a trend.
Repeating an old forecast as current
Fix: print the STEO edition date and forecast period beside the value and replace it when a newer edition arrives.
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Fix: record the affected route, reported volume and uncertainty, then look for corroboration in flows, inventories and later IEA or EIA releases.
Assuming a global alert service is comprehensive
Fix: use the recurring EIA, IEA and OPEC publications for documented data, and state clearly that these sources do not constitute a complete free real-time shipping-alert system.
A practical decision rule
For a routine market update, publish only when you can answer three questions: Which benchmark moved, what happened to physical supply indicators, and what does the latest dated analysis say about cause and duration? If one part is missing, label the gap rather than infer it. This discipline keeps a dramatic headline from being mistaken for a measured, lasting supply loss.
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