By Dan Molinski

U.S. commercial crude-oil stockpiles are expected to have fallen from the previous week in data due Wednesday from the Energy Department, according to a survey by The Wall Street Journal.

The average of estimates from 11 analysts and traders showed U.S. oil inventories are projected to have declined by 1.5 million barrels for the week ended March 17, with 10 analysts forecasting a decline and just one predicting an increase. Forecasts range from a decrease of 3.5 million barrels to an increase of 1.5 million barrels.

The closely watched data from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.

Gasoline stockpiles are expected to decline by 1.4 million barrels from the previous week, according to analysts. Estimates range from a decrease of 3 million barrels to an increase of 1.2 million barrels.

Stocks of distillates, which is mostly diesel fuel, are expected to decrease by 1.3 million barrels from the previous week. Forecasts range from a decrease of 2.7 million barrels to an increase of 1.5 million barrels.

Refinery use likely increased by 0.7 percentage point from the previous week to 88.9%. Forecasts range from a 1.2-percentage-point decline to a 1.1 percentage-point increase. Two analysts didn't make a forecast.

 
                                                                 Refinery 
                                   Crude  Gasoline  Distillates   Use 
Again Capital                       -1.8      -2.7         -1.4       1.1 
Citi Futures                        -3.5      -2.5         -1.5         1 
Commodity Research Group            -1.8      -0.4         -1.3      -1.2 
Confluence Investment Management     1.5        -1         -1.5         1 
DTN                                 -1.2       1.2          0.8       0.5 
Excel Futures                       -1.8      -2.4         -2.7       1.1 
Spartan Capital Securities          -1.3       0.8         -2.4       n/f 
Mizuho                                -2        -1          1.5       0.5 
Price Futures Group                 -2.5      -3.0         -2.5         1 
Ritterbusch and Associates            -1      -2.0         -1.8       1.0 
Tradition Energy                    -1.2        -2         -1.2       n/f 
 
AVERAGE                             -1.5      -1.4         -1.3       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

March 21, 2023 12:03 ET (16:03 GMT)

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