U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say -- Update
(Adds API data)
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 2.7 million barrels in
the week ended July 30, with forecasts ranging from declines of 1.4
million barrels to 4 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 1.6 million barrels
from the previous week, according to analysts. Estimates range from
a decrease of 3 million barrels to an increase of 1 million
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 500,000 barrels from the previous week.
Forecasts range from a decrease of 3.4 million barrels to an
increase of 3 million barrels.
Refinery use likely rose by 0.4 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 its data for the week showed an 879,000-barrel decrease in
crude supplies, a 5.8 million-barrel fall in gasoline stocks and a
717,000-barrel decline in distillate inventories, according to a
Crude Gasoline Distillates Use
Again Capital -2.7 -1.9 -1.1 0.3
Citi Futures -3.5 -1 0 0.5
Commodity Research Group -2.5 -0.9 -0.8 1
Confluence Investment Management -3 1 1.5 1
DTN -3.2 -2.1 -1.2 -0.4
Excel Futures -3.4 -2.8 -3.4 0.5
Spartan Capital Securities -1.4 -2.4 -0.1 n/f
Mizuho -3 -2 -1 -0.5
Price Futures Group -4 -3 -3 0.5
Ritterbusch and Associates -1.5 -1.3 3 1
Tradition Energy -1.5 -1 0.5 n/f
AVERAGE -2.7 -1.6 -0.5 0.4
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
August 03, 2021 17:11 ET (21:11 GMT)
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