U.S. Crude-Oil Stockpiles Likely Declined in DOE Data, Analysts Say
June 28 2022 - 11:39AM
Dow Jones News
By Dan Molinski
U.S. crude-oil stockpiles are expected to have decreased 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 nine analysts and traders showed U.S. oil
inventories are projected to have declined by 800,000 barrels for
the week ended June 24. Seven of the analysts surveyed are
expecting a decline, while two forecast an increase. Forecasts
range from a decrease of 3.1 million barrels to an increase of 3
million barrels.
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. ET Wednesday.
The release is also scheduled to include a weekly report for the
week ending June 17, which was supposed to be published last week,
but has been delayed due to electrical voltage issues that damaged
the government's computer hardware systems.
Gasoline stockpiles are expected to decrease by 800,000 barrels
from the previous week, according to analysts. Estimates range from
a decrease of 3 million barrels to an increase of 1.1 million
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to rise by 200,000 barrels from the previous week.
Forecasts range from a decrease of 2 million barrels to an increase
of 2.9 million barrels.
Refinery use likely rose by 0.5 percentage point from the
previous week. Forecasts range from increases of 0.2 percentage
point to 1 percentage point. Two analysts didn't make a
forecast.
Refinery
Crude Gasoline Distillates Use
Again Capital -1.6 1.1 1.4 0.2
Citi Futures -1.5 1 -1 0.5
Confluence Investment Management -2.5 -1 0.5 0.5
DTN -1 0.6 0.5 0.2
Excel Futures 2.2 -1.8 -0.8 0.4
Spartan Capital Securities -3.1 -2.2 2.9 n/f
Mizuho -2 -1 -0.5 0.5
Price Futures Group 3 -3 -2 1
Tradition Energy -1 -0.5 0.4 n/f
AVERAGE -0.8 -0.8 0.2 0.5
n/f = no forecast
unch = unchanged
Note: Numbers in millions of barrels, with the exception of
refinery use, which is in percentage points.
Write to Dan Molinski at dan.molinski@wsj.com
(END) Dow Jones Newswires
June 28, 2022 11:24 ET (15:24 GMT)
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