U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say
June 15 2021 - 11:27AM
Dow Jones News
By Dan Molinski
U.S. crude-oil stockpiles are unanimously expected to decrease
from the previous week in data due Wednesday from the Energy
Department, according to a survey of analysts and traders by The
Wall Street Journal.
Estimates from 11 analysts and traders showed U.S. oil
inventories are projected to have fallen by 2.9 million barrels in
the week ended June 11, with forecasts ranging from declines of
500,000 barrels to 4.5 million barrels.
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. ET
Wednesday.
Gasoline stockpiles are expected to fall by 800,000 barrels from
the previous week, according to analysts. Estimates range from a
decrease of 3 million barrels to an increase of 4.3 million
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to rise by a marginal 100,000 barrels from the previous
week. Forecasts range from a decrease of 2 million barrels to an
increase of 3.7 million barrels.
Refinery use likely rose by 0.2 percentage point to 91.5% of
capacity. Forecasts range from a decrease of 0.5 percentage point
to a 1 percentage-point increase. Two analysts didn't make a
forecast.
Refinery
Crude Gasoline Distillates Use
Again Capital -3.9 -1.4 -1 0.3
Citi Futures -1.5 1.5 1.5 0.5
Commodity Research
Group -4.4 -2.1 -0.9 -0.5
Confluence
Investment
Management -2.5 -1 1 0.3
DTN -2.5 1 1.5 -0.5
Excel Futures -4.5 4.3 3.7 1
Spartan Capital
Securities -2.7 -2.9 -0.9 n/f
Mizuho -2 -1 -1 -0.5
Price Futures
Group -4 -3 -2 1
Ritterbusch and
Associates -3 -2.0 -1.1 0.4
Tradition Energy -0.5 -2 0.5 n/f
AVERAGE -2.9 -0.8 0.1 0.2
Note: Numbers in millions of barrels, with the exception of
refinery use, which is in percentage points.
n/f = no forecast
Write to Dan Molinski at dan.molinski@wsj.com
(END) Dow Jones Newswires
June 15, 2021 11:26 ET (15:26 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.