(This article was originally published Tuesday.)

By Dan Molinski

U.S. commercial crude-oil stockpiles are expected to have decreased slightly 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 decreased by 300,000 barrels for the week ended Sept. 23, with five analysts forecasting a decline and four predicting an increase. Forecasts range from a decrease of 3 million barrels to an increase of 2.5 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 increase by 900,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 1 million barrels to an increase of 2.6 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 100,000 barrels from the previous week. Forecasts range from a decrease of 2.2 million barrels to an increase of 2.1 million barrels.

Refinery use likely declined by 0.7 percentage point from the previous week to 92.9%. Forecasts range from a 1.5 percentage-point decrease to a 0.3 percentage-point increase. Two analysts didn't make a forecast.

The American Petroleum Institute, an industry group, said late Tuesday its data for the week showed a 4.2 million-barrel increase in crude supplies, a 1 million-barrel fall in gasoline stocks and a 438,000-barrel increase in distillate inventories, according to a source.

 
                                                                   Refinery 
                                    Crude   Gasoline   Distillates    Use 
Again Capital                       -1.7       2.6          2.1       0.3 
Citi Futures                        -1.5        -1           -1      -1.5 
Commodity Research Group             2.3       0.5          0.6      -1.4 
Confluence Investment Management     2.5         1          1.5        -1 
DTN                                  0.5       1.2         -0.8      -0.8 
Spartan Capital Securities          -0.4       1.3         -0.6       n/f 
Price Futures Group                   -2        -1           -2      unch 
Ritterbusch and Associates            -3       1.5         -2.2      -0.5 
Tradition Energy                     0.5       1.8          1.2  n/f 
 
AVERAGE                             -0.3       0.9         -0.1      -0.7

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

September 28, 2022 09:14 ET (13:14 GMT)

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