U.S. Crude-Oil Stocks Seen Increasing in DOE Data -- Update
March 28 2017 - 5:27PM
Dow Jones News
By Alison Sider
U.S. crude-oil stocks are expected to show an increase in data
due Wednesday from the Department of Energy, according to a survey
of analysts and traders by The Wall Street Journal.
Estimates from 10 analysts and traders surveyed showed that U.S.
oil inventories are projected to have increased by 1 million
barrels, on average, in the week ended March 24.
Seven analysts expect stockpiles to grow and three expect them
to shrink. Forecasts range from a decrease of 3 million barrels to
an increase of 3.9 million barrels.
The closely watched survey from the Energy Information
Administration is due at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to show a decrease of 1.9
million barrels on average, according to analysts. All 10 analysts
expect them to fall. Estimates range from a decrease of 3 million
barrels to a decrease of 198,000 barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to shrink by 1 million barrels. One analyst expects an
increase and nine expect a decrease. Forecasts range from a decline
of 2 million barrels to an increase of 754,000 barrels.
Refinery use is seen gaining 0.3 percentage point to 87.7% of
capacity, based on EIA data. Six analysts expect an increase, one
expects a decrease, one expects no change and two didn't report
expectations. Forecasts range from a decrease of 1.5 percentage
points to an increase of 1 point.
The American Petroleum Institute, an industry group, said late
Tuesday that its own data for the week showed a 1.9 million-barrel
rise in crude supplies, a 1.1 million-barrel decrease in gasoline
stocks and a 2 million-barrel fall in distillate inventories,
according to a market participant.
Crude Gasoline Distillates Refinery Use
Citi Futures 2.5 -2.5 -1.5 0.5
Commodity Research Group 0.6 -1.6 -1.2 0.5
Confluence Investment Management 2 -2.5 -1 0
Energy Management Institute 2 -2 -1.5 0.4
Excel Futures 3.616 -1.337 -0.436 0.3
First Standard Financial -0.721 -0.198 0.754 NA
Oil Outlooks and Opinions -2.5 -1.5 -1 1
Price Futures Group -3 -2 -2 1
Tradition Energy 3.9 -3 -1 -1.5
Tyche Capital Advisors 2.1 -2.5 -1 NA
AVERAGE 1.0 -1.9 -1.0 0.3
(Figures in millions of barrels except for refining capacity,
which is reported in percentage points. For analysts providing
forecasts in a range, the average of the upper and lower ends of
the range is used.)
Write to Alison Sider at alison.sider@wsj.com
(END) Dow Jones Newswires
March 28, 2017 17:12 ET (21:12 GMT)
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