EIA will release annual energy outlook at the top of the hour

The annual report will include projections until 2040.

"At 1:00 p.m. Eastern Time, EIA will release the Annual Energy Outlook 2015, which presents long-term projections of energy supply, demand, and prices through 2040. The analysis in AEO2015 focuses on six cases: Reference, Low and High Economic Growth, Low and High Oil Price, and High Oil and Gas Resource."

I'd wager that most oil traders don't realize this report is coming out at the top of the hour. Watch for moves in oil, which is on a nice run today, up to $53.51.

I suspect we will get headlines saying that producers will cut back because of low prices. In turn, that would be bullish and could add some fresh buying but the better trade might just be to wait-and-see and then trade the headlines, whatever they are.