U.S. Crude-Oil Stocks Seen Increasing in DOE Data
February 22 2017 - 5:37PM
Dow Jones News
By Timothy Puko
U.S. crude-oil stocks are expected to show an increase in data
due Thursday from the Department of Energy, according to a survey
of analysts and traders by The Wall Street Journal. Estimates from
12 analysts and traders surveyed showed that U.S. oil inventories
are projected to have increased by 3.4 million barrels, on average,
in the week ended Feb. 17.
Eleven analysts expect stockpiles to rise and one expects them
to fall. Forecasts range from a decrease of 789,000 barrels to an
increase of 6.5 million barrels. The closely watched survey from
the Energy Information Administration is due at 11 a.m. EST
Thursday. Gasoline stockpiles are expected to show a decrease of
1.2 million barrels on average, according to analysts. One analyst
expects them to rise and 11 expect them to fall. Estimates range
from a fall of 2.8 million barrels to an increase of 3.9 million
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 400,000 barrels. Two analysts expect an
increase and 10 expect a decrease. Forecasts range from a decline
of 2 million barrels to an increase of 3 million barrels.
Refinery use is seen staying unchanged for the week at 85.4% of
capacity, based on EIA data. Five analysts expect an increase, four
expect a decrease, one expects no change and two didn't report
expectations. Forecasts range from a decrease of 1.1 points to an
increase of 1 point.
The American Petroleum Institute, an industry group, said late
Wednesday that its own data for the week showed a 884,000-barrel
decrease in crude supplies, a 893,000-barrel decline in gasoline
stocks and a 4.2-million-barrel decrease in distillate inventories,
according to a market participant.
Crude Gasoline Distillates Refinery Use
Citi Futures Perspective 3.5 -1.5 -1 0.8
Commodity Research Group 3 -1.5 1.2 -0.1
Confluence Investment Management 3 -1.5 -1 0.5
Energy Management Institute 3.3 -0.8 -0.3 0.5
Excel Futures 6.512 3.931 -0.062 -1.1
First Standard Financial -0.789 -2.789 -1.459 na
Frost & Sullivan 3.5 -1.5 -2 -1
Ion Energy Group 4.5 -0.5 -0.5 na
Price Futures Group 4 -2 -2 0
Ritterbusch and Associates 3 -2 -0.2 -0.9
Schneider Electric 2.75 -2.5 -1 0.25
Tradition Energy 4 -2 3 1
AVERAGE 3.4 -1.2 -0.4 0.0
High 6.512 3.931 3 1
Low -0.789 -2.789 -2 -1.1
(Figures in millions of barrels except for refining capacity,
which is reported in percentage points. For analysts providing
forecasts in a range, the average of the upper and lower ends of
the range is used.)
Write to Timothy Puko at tim.puko@wsj.com
(END) Dow Jones Newswires
February 22, 2017 17:22 ET (22:22 GMT)
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