U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say
(This article was originally published Tuesday.)
By Dan Molinski
U.S. crude-oil stockpiles are unanimously expected to decrease
from the previous week in data due Wednesday from the U.S. 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 4.1 million barrels in
the week ended June 18, with forecasts ranging from declines of 1.1
million barrels to 7 million barrels.
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. EDT
Gasoline stockpiles are expected to rise by 800,000 barrels from
the previous week, according to analysts. Estimates range from a
decrease of 2.6 million barrels to an increase of 3 million
Stocks of distillates, which include heating oil and diesel, are
expected to rise by 600,000 barrels from the previous week.
Forecasts range from a decrease of 2 million barrels to an increase
of 2 million barrels.
Refinery use likely rose by 0.5 percentage point to 93.1% of
capacity. Forecasts range from a decrease of 0.5 percentage point
to a 1.1 percentage-point increase. Two analysts didn't make a
The American Petroleum Institute, an industry group, said late
Tuesday its data for the week showed a 7.2 million-barrel decrease
in crude supplies, a 959,000-barrel increase in gasoline stocks and
a 992,000-barrel rise in distillate inventories, according to a
Crude Gasoline Distillates Use
Again Capital -4.2 1.1 1.4 0.8
Citi Futures -3.5 1 1 0.5
Commodity Research Group -3.2 0.5 0.6 0.1
Confluence Investment Management -3 -1 2 0.5
DTN -1.1 0.5 1.5 0.3
Excel Futures -6 2.3 -1 1.1
Spartan Capital Securities -3.9 -2.6 0.1 n/f
Mizuho -3 3 1.5 -0.5
Price Futures Group -5 1 -2 1
Ritterbusch and Associates -4.8 1.0 0.8 0.4
Tradition Energy -7 2 1 n/f
AVERAGE -4.1 0.8 0.6 0.5
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 23, 2021 09:14 ET (13:14 GMT)
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