Tell me about the American Petroleum Institute

William Davies
(UK)

American Petroleum Institute (API) is an American trade group representing the industries of petroleum and natural gas.

Members of the API may vary from large corporations such as Exxon oil multinationals to small independent producers or distributors, from different sectors of the oil industry.

As someone who can look at the raw commodity trading perspective, may very well be eager to learn what information you make available API on a regular basis.

An important example is the data that API releases on inventory of energy on a weekly basis. This information is normally issued at the same time as data from the US Energy Information Administration (EIA), but will soon be available a day earlier.

From 27 January the API energy data released on Tuesday, followed by the EIA on Wednesday.

One of the primary market benchmark products to be influenced by these data is the key light Nymex, the price of sweet crude oil futures.

This indicator also referred to as West Texas Intermediate (WTI) plays an important role in setting the mood and trend among operators of the raw materials in oil markets, along with ICE Brent crude traded on ICE Futures Europe.

While commodity traders will take advantage of a commodity trading system choice as part of their technical analysis, these data by contributing to the overall evaluation on the basis of an analysis of where you direct the world oil market.

The API has other key roles, as is the "official" press of petroleum activities, an interface with the public to help achieve the objectives of the organization.

The Group also represents members at all levels of Government through the use of extensive lobbying, acting for the members in legal issues affecting the industry and its operations.

In addition to having a key input into the educational process through conferences and symposia, API Sets benchmarks for manufacturers of equipment used in industry, as well as certification for the health, safety and environmental requirements.

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