U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say
July 27 2021 - 11:23AM
Dow Jones News
By Dan Molinski
U.S. crude-oil stockpiles are expected to decrease from the
previous week in data due Wednesday from the U.S. Energy
Department, according to a survey of analysts and traders by The
Wall Street Journal.
Estimates from 10 analysts and traders showed U.S. oil
inventories are projected to have fallen by 2.2 million barrels in
the week ended July 23, with forecasts ranging from a decline of
4.8 million barrels to an increase of 1 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 1 million barrels
from the previous week, according to analysts. Estimates range from
a decrease of 3.1 million barrels to an increase of 1.5 million
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 400,000 barrels from the previous week.
Forecasts range from a decrease of 3 million barrels to an increase
of 1 million barrels.
Refinery use likely rose by 0.3 percentage point to 91.7% 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 -2.7 -3.1 -1.1 0.4
Commodity Research Group -4.3 -0.5 unch 0.4
Confluence Investment Management -2 1.5 1 0.5
DTN -1.5 -1.1 0.8 0.2
Excel Futures -2.1 -1.5 -1.8 0.5
Spartan Capital Securities -0.6 -1.6 -0.4 n/f
Mizuho -1 -1 1 -0.5
Price Futures Group -4 -2 -3 1
Ritterbusch and Associates -4.8 -0.5 unch -0.2
Tradition Energy 1 -0.3 -0.3 n/f
AVERAGE -2.2 -1.0 -0.4 0.3
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 da.molinski@wsj.com
(END) Dow Jones Newswires
July 27, 2021 11:17 ET (15:17 GMT)
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