U.S. Crude-Oil Stockpiles Likely Decreased in DOE Data, Analysts Say


By Dan Molinski

U.S. crude-oil stockpiles are expected to have fallen from the previous week in data due Wednesday from the Energy Department, according to a survey by The Wall Street Journal.

The average of estimates from 10 analysts and traders showed U.S. commercial crude-oil stockpiles are projected to have declined by 1 million barrels for the week ended Sept. 15. Seven of the forecasters are predicting a decrease while three are expecting an increase. Expectations range from a decrease of 3.5 million barrels to an increase of 3.8 million barrels.

The closely watched inventory data from the DOE’s Energy Information Administration is scheduled for release at 10:30 a.m. EDT Wednesday.

Gasoline inventories are expected to rise by 500,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 3 million barrels to an increase of 3.1 million barrels.

Stocks of distillates, which are mostly diesel fuel, are expected to decrease by 200,000 barrels from the previous week. Forecasts range from a decrease of 3 million barrels to an increase of 1.9 million barrels.

Refinery use likely fell by 0.6 percentage point from the previous week to 93.1%. Forecasts range from a decrease of 1 percentage point to an increase of 0.4 percentage point. Two analysts didn’t make a forecast.

 

Crude Gasoline Distillates Refinery Use

Again Capital -1.9 2.2 1.1 0.4 Commodity Research Group -3.5 1.2 1.1 -1 Confluence Investment Management -1.5 -0.5 -1 -1 DTN -2.5 0.5 0.5 -0.5 Excel Futures 3.8 3.1 1.9 -0.7 Spartan Capital Securities 2.6 1.5 1.2 n/f Mizuho 2 1 1 -1 Price Futures Group -3 -3 -3 -1 Ritterbusch and Associates -2.5 -1.4 -1.5 0.4 Tradition Energy -3.5 0.2 -3 n/f AVERAGE -1.0 0.5 -0.2 -0.6

n/f = no forecast

unch = unchanged

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Dan Molinski at dan.molinski@wsj.com



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