U.S. Crude-Oil Stockpiles Likely Increased in DOE Data, Analysts Say
October 05 2022 - 9:29AM
Dow Jones News
(This article was originally published Tuesday.)
By Dan Molinski
U.S. commercial crude-oil stockpiles are expected to have risen
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 increased by 1.3 million barrels
for the week ended Sept. 30, with just two analysts forecasting a
decline and nine predicting an increase. Forecasts range from a
decrease of 3 million barrels to an increase of 4.7 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 decrease by 1 million
barrels from the previous week, according to analysts. Estimates
range from a decrease of 2.5 million barrels to an increase of 1.4
million barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 1.4 million barrels from the previous week.
Forecasts range from a decrease of 3.1 million barrels to an
increase of 1.2 million barrels.
Refinery use likely declined by 0.4 percentage point from the
previous week to 90.2%. Forecasts range from a 1.3 percentage-point
decrease to a 0.4 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 1.8 million-barrel decrease
in crude supplies, a 3.5 million-barrel fall in gasoline stocks and
a 4 million-barrel drop in distillate inventories, according to a
source.
Refinery
Crude Gasoline Distillates Use
Again Capital 1.8 -2.3 -1.4 0.4
Citi Futures 2.5 -1 -1.5 unch
Commodity Research Group 4.7 -1.1 1.2 -1.3
Confluence Investment Management 2.5 0.5 -1.5 -1
DTN 2.1 -1.8 0.5 -0.5
Excel Futures 1.8 -2.3 -3.1 -0.6
Spartan Capital Securities -0.8 1.4 -2.9 n/f
Mizuho 1 -1 -1 -0.5
Price Futures Group -3 -2.5 -3 unch
Ritterbusch and Associates 1.5 0.7 -1.3 -0.5
Tradition Energy 0.2 -2 -1.5 n/f
AVERAGE 1.3 -1.0 -1.4 -0.4
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
October 05, 2022 09:14 ET (13:14 GMT)
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