Research library
Oil and Gas Deep Dives
PetroEyes publishes 37 long-form explainers on how oil and gas markets are measured and priced. Each one is built from primary sources, mainly the US Energy Information Administration, OPEC, the International Energy Agency, national regulators and statistical agencies, and each figure carries the month it was last checked.
How this library is organized
The explainers are grouped into six research areas. Start with the benchmarks if a headline says "oil prices" and you want to know which price it means. Use the data guides when a weekly or monthly report is about to move the market and you want to read the table yourself rather than rely on a summary. The fuel-price and household sections follow the barrel downstream to what drivers and households pay, including why that bill differs from one state, province or season to the next. The natural gas and supply sections cover the wholesale gas market, OPEC+ policy, refinery capacity and trade flows.
None of these pages is trading advice. They explain how the numbers are produced, what they include and leave out, and where readers most often misread them. For live numbers, the WTI price page, Henry Hub page, rig count tracker and city gas price map carry the latest values with their source dates, and the topic hubs connect these explainers to the matching data pages.
Crude benchmarks and spreads
How WTI, Brent and Canadian heavy crude are priced, where they are delivered, and what the spreads between them say about pipelines, ships and quality.
- WTI vs Brent Spread Explained
Why the two main crude benchmarks part ways and what the gap pays for.
- Western Canadian Select vs WTI
Why Canadian heavy crude trades at a discount and how to read the differential.
- Cushing, Oklahoma: the WTI Delivery Point
The storage hub behind the WTI contract and what its tank levels signal.
- Contango vs Backwardation
Reading the shape of the futures curve, with the April 2020 episode.
- Barrel of Oil, Explained
Units, conversions and refinery yields behind every barrel figure.
- Permian Rig Count vs WTI Spread
How Permian drilling connects to WTI spread pressure.
Reading the energy data
Line-by-line guides to the weekly, monthly and annual reports that move oil and gas prices, from the EIA Wednesday report to the OPEC and EIA monthly outlooks.
- How to Read the EIA Weekly Petroleum Status Report
Builds, draws and days of supply in the Wednesday report.
- API vs EIA Inventory Reports
The Tuesday industry survey against the Wednesday government data.
- How to Read the EIA Drilling Productivity Report
New-well production per rig and legacy decline by region.
- How to Read the EIA Short-Term Energy Outlook
The monthly STEO table by table, and how to compare one forecast with the last.
- How to Read OPEC's Monthly Oil Market Report
Secondary sources, direct communication and the demand for OPEC+ crude.
- EIA Report Schedule, Explained
When each EIA weekly, monthly and annual release lands.
- Baker Hughes Rig Count Explained
What the Friday rig number counts and what it leaves out.
- Drilled but Uncompleted Wells (DUCs)
The DUC inventory arithmetic and months-of-completions cover.
- Product Supplied, Explained
How the EIA's demand proxy is built and where it misleads.
- PADD Districts, Explained
The five US petroleum regions behind every regional statistic.
- U.S. Crude Oil Inventories Since 1982
The complete weekly record of commercial crude stocks.
Refined fuel prices
What sits inside the price of gasoline, diesel, jet fuel, propane and heating oil, from the crude barrel to the refinery margin and the retail layer.
- What You Pay for in a Gallon of Gasoline
Crude, refining, distribution and taxes in one gallon.
- Rockets and Feathers: Gasoline Prices
Why pump prices rise fast and fall slowly, tested against the data.
- Diesel Prices, Explained
The freight fuel and the distillate market that prices it.
- Jet Fuel Prices, Explained
Kerosene-type jet fuel from the refinery to the airline.
- Propane Prices, Explained
Mont Belvieu, regional delivery and the winter heating season.
- Heating Oil Prices, Explained
The crude barrel, the distillate market and the dealer markup.
- Refinery Crack Spreads, Explained
The 3-2-1 crack and what refining margins say about fuel prices.
Household fuel costs by place and season
Why the same fuel costs more in one state, province or month than another: taxes, fuel specifications, distance from refineries, and the seasonal switch.
- Why Gas Prices Differ by State
State fuel taxes, special blends and distance from refineries, with a dated 51-row tax table.
- Summer vs Winter Gasoline, Explained
EPA vapor-pressure rules, switch dates and the spring price step.
- Canada Gas Prices by Province
Federal and provincial taxes per litre and the pre-tax gaps between cities.
Natural gas from the hub to the bill
How the Henry Hub price, storage and pipelines reach a household gas bill, and why the bill rarely moves in step with the wholesale price.
- How to Read the EIA Natural Gas Storage Report
Working gas, regions and the five-year average in the Thursday release.
- Natural Gas Bill Explained
From the Henry Hub price to the delivery charges and purchased gas adjustment on a home bill.
Supply, trade and refining
Where US and world oil comes from and goes: shale basins, OPEC+ policy, the strategic reserve, refinery capacity, imports and exports.
- US Refinery Capacity in 2026
The EIA January 1, 2026 count by PADD, the closures, and what they mean for fuel.
- US Crude Oil Exports, Explained
Who buys US crude, the export arbitrage, the ships, and the data series.
- US Oil Imports by Country
Why the largest producer still imports, and from whom.
- OPEC+ Explained
Quotas, compliance and spare capacity in the producer group.
- OPEC+ Export Quota Impact
A model of how quota changes reach export volumes.
- The SPR Depletion Mathematics
Drawdown rates, refill arithmetic and the reserve's cover.
- Permian Basin Production Outlook
The largest US basin's output path and its constraints.
- Alberta Production and Takeaway Limits
Pipeline capacity as the ceiling on Canadian oil growth.