(Adding API data)

 

By Dan Molinski

 

U.S. crude-oil stocks are expected to decline in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 11 analysts and traders surveyed showed U.S. oil inventories are projected to have fallen by 1.3 million barrels, on average, in the week ended Sept. 21.

Nine of the 11 analysts expect oil stockpiles to fall, with the forecasts ranging from an increase of 1 million barrels to a decrease of 3.5 million barrels.

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

Gasoline stockpiles are expected to rise by 200,000 barrels on average, according to analysts. Estimates range from an increase of 2 million barrels to a decrease of 3.7 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to rise by 500,000 barrels. Forecasts range from a build of 2.5 million barrels to a draw of 2 million.

Refinery use is seen falling 0.9 percentage point, to 94.5% of capacity. The forecasts range from a 1 percentage-point increase to a 1.5 percentage-point decrease. One analyst didn't provide a forecast for refinery use.

The American Petroleum Institute, an industry group, said late Tuesday that its data for the week showed a 2.9 million-barrel increase in crude supplies, a 949,000-barrel rise in gasoline stocks and a 944,000-barrel decrease in distillate inventories, according to a market participant.

 
                                                     Refinery 
                     Crude   Gasoline    Distillates   Use 
Again Capital        -1.9       1.1          2.2      -0.4 
Citi Futures         -1.5         1            0      -1.5 
Commodity Research 
 Group               -0.4      -0.5         -0.2      -0.7 
Confluence 
 Investment 
 Management          -0.5         1           -2      -1.5 
Energy Management 
 Institute           -1.7         1          0.2      -1.1 
Excel Futures           1       1.2          1.5      -1.2 
Spartan Capital 
 Securities          -1.3      -3.7         -0.5       n/a 
 
Mizuho                  1        -1          0.5      -1.2 
Price Futures 
 Group               -3.5         2            2        -1 
Ritterbusch and 
 Associates          -2.2       0.7         -0.2      -1.0 
 
Tradition Energy     -3.5        -1          2.5         1 
 
AVERAGE              -1.3       0.2          0.5      -0.9 
 

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

 

(END) Dow Jones Newswires

September 25, 2018 17:04 ET (21:04 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.