Comprehensive List of Factors that affect crude oil price

Considering trading crude oil. Will study for 6 months and use free practice trading accounts. Can the community help me create a list of factors that affect crude oil price. I expect the list to be long. I can later parse it and research the factors that have the most influence.

  • Like 1

Share this post


Link to post
Share on other sites

It's a very long list, the fundamentals of which are skewed by sentiment and how speculators perceive the geopolitical situation as well. Definitely would be looking at weekly inventory reports, keeping in mind that API comes in a day before the official figures from EIA and they don't always correlate. Then you have rig count on Fridays, production numbers coming from OPEC, figures on compliance from OPEC cuts, more product going offline or online (Venezuela, Libya, Nigeria mostly). 

  • Upvote 1

Share this post


Link to post
Share on other sites

1 hour ago, TraderTate said:

It's a very long list, the fundamentals of which are skewed by sentiment and how speculators perceive the geopolitical situation as well. Definitely would be looking at weekly inventory reports, keeping in mind that API comes in a day before the official figures from EIA and they don't always correlate. Then you have rig count on Fridays, production numbers coming from OPEC, figures on compliance from OPEC cuts, more product going offline or online (Venezuela, Libya, Nigeria mostly). 

Thank you. I will continue to add to the list. For example, I am adding Israel-Iran-Saudi Arabia-Yemen as geopolitical factors. Would you be willing to look at my final list when you have the time. I will refine it and place the factors in categories. I don't think I can weight each factor without at least six months experience. I have extensive portfolio in Royal Dutch Shell and some oil/gas MLPs and have a starting list of factors that I have used to invest in these stocks. But, crude oil is so much more volatile and the factors could number between 30 40!

  • Like 1

Share this post


Link to post
Share on other sites

Sure thing! And I'm sure the oilprice.com administrators will chime in as well with their expertise. 

Share this post


Link to post
Share on other sites

Happy to be here and looking forward to learn new stuffs from fello colleagues

  • Like 1

Share this post


Link to post
Share on other sites

10 minutes ago, Eloaking said:

Happy to be here and looking forward to learn new stuffs from fello colleagues

Great to have you on board @Eloaking!

Share this post


Link to post
Share on other sites

A very important factor is the report published every Wednesday "Crude Oil Inventories"

Share this post


Link to post
Share on other sites