U.S. Crude-Oil Stocks Seen Decreasing in DOE Data
June 27 2017 - 5:28PM
Dow Jones News
By Timothy Puko
U.S. crude-oil stocks are expected to show a decrease in data
due Wednesday from the Department of Energy, according to a survey
of analysts and traders by The Wall Street Journal. Estimates from
10 analysts and traders surveyed showed that U.S. oil inventories
are projected to have decreased by 2.4 million barrels, on average,
in the week ended June 23.
All 10 analysts expect stockpiles to shrink. Forecasts range
from a decrease of 4.5 million barrels to a decrease of 900,000
barrels. The closely watched survey from the Energy Information
Administration is due at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are expected to show a decrease of 600,000
barrels, on average, according to analysts. Three expect them to
rise, five expect them to fall and two expect no change. Estimates
range from a fall of 3 million barrels to an increase of 500,000
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to rise by 300,000 million barrels. Seven expect an
increase, and three expect a decrease. Forecasts range from a
decline of 2 million barrels to an increase of 1.5 million
barrels.
Refinery use is seen falling 0.2 percentage point to 93.8% of
capacity, based on EIA data. Five analysts expect a decrease, three
expect an increase and two didn't report expectations. Forecasts
range from a decrease of 1 percentage point to an increase of 0.5
point.
The American Petroleum Institute, an industry group, said late
Tuesday that its own data for the week showed an 800,000-barrel
increase in crude supplies, a 1.4 million-barrel rise in gasoline
stocks and a 700,000-barrel increase in distillate inventories,
according to a market participant.
Crude Gasoline Distillates Refinery Use
Citi Futures Perspective -2.5 0 1 -0.5
Commodity Research Group -0.9 0.4 -0.3 -0.3
Confluence Investment Management -3 -0.5 1.5 0.5
Energy Management Institute -2 -0.5 1 -0.3
Excel Futures -1.992 -1.284 0.868 0.4
First Standard Financial -1.39876 -2.45689 -1.45646 na
Ion Energy Group -2.5 0.5 1 na
Price Futures Group -4.5 -3 -2 -1
Ritterbusch and Associates -2 0 0.5 -0.5
Schneider Electric -2.8 0.5 1.2 0.25
AVERAGE -2.4 -0.6 0.3 -0.2
High -0.9 0.5 1.5 0.5
Low -4.5 -3 -2 -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.)
(END) Dow Jones Newswires
June 27, 2017 17:13 ET (21:13 GMT)
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