U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say -- Update
By Dan Molinski
U.S. crude-oil stockpiles are unanimously expected to decrease
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 fallen by 2.9 million barrels in
the week ended June 11, with forecasts ranging from declines of
500,000 barrels to 4.5 million barrels.
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. ET
Gasoline stockpiles are expected to fall by 800,000 barrels from
the previous week, according to analysts. Estimates range from a
decrease of 3 million barrels to an increase of 4.3 million
Stocks of distillates, which include heating oil and diesel, are
expected to rise by a marginal 100,000 barrels from the previous
week. Forecasts range from a decrease of 2 million barrels to an
increase of 3.7 million barrels.
Refinery use likely rose by 0.2 percentage point to 91.5% of
capacity. Forecasts range from a decrease of 0.5 percentage point
to a 1 percentage-point increase. Two analysts didn't make a
The American Petroleum Institute, an industry group, said late
Tuesday that its own data for the week showed a 8.5-million-barrel
decrease in crude supplies, a 2.9-million-barrel increase in
gasoline stocks and a 2-million-barrel rise in distillate
inventories, according to a source.
Crude Gasoline Distillates Use
Again Capital -3.9 -1.4 -1 0.3
Citi Futures -1.5 1.5 1.5 0.5
Group -4.4 -2.1 -0.9 -0.5
Management -2.5 -1 1 0.3
DTN -2.5 1 1.5 -0.5
Excel Futures -4.5 4.3 3.7 1
Securities -2.7 -2.9 -0.9 n/f
Mizuho -2 -1 -1 -0.5
Group -4 -3 -2 1
Associates -3 -2.0 -1.1 0.4
Tradition Energy -0.5 -2 0.5 n/f
AVERAGE -2.9 -0.8 0.1 0.2
Note: Numbers in millions of barrels, with the exception of
refinery use, which is in percentage points.
n/f = no forecast
Write to Dan Molinski at firstname.lastname@example.org
(END) Dow Jones Newswires
June 15, 2021 16:59 ET (20:59 GMT)
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