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By Dan Molinski


U.S. crude-oil stockpiles are 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 1.3 million barrels for the week ended Dec. 3, with nine analysts forecasting a decrease and two analysts predicting an increase. Forecasts ranged from a decrease of 3.5 million barrels to an increase of 2 million barrels.

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

Gasoline stockpiles are expected to rise by 1.7 million barrels from the previous week, according to analysts. Estimates range from a decrease of 2 million barrels to an increase of 3 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to increase by 1.2 million barrels from the previous week. Forecasts range from a decrease of 2 million barrels to an increase of 3 million barrels.

Refinery use likely rose by 0.5 percentage point from the previous week, to 89.3% of capacity. Forecasts range from increases of 0.2 percentage point to 1 percentage point. Two analysts didn't make a forecast.

The American Petroleum Institute, an industry group, said late Tuesday its data for the week showed a 3.1 million-barrel decrease in crude supplies, a 3.7 million-barrel rise in gasoline stocks and a 1.2 million-barrel increase in distillate inventories, according to a source.

                                    Crude   Gasoline    Distillates   Use 
Again Capital                       -1.4       2.2         -0.9       0.3 
Citi Futures                        -3.5       2.5          2.5         1 
Commodity Research Group            -2.1         2          0.4       0.7 
Confluence Investment Management       2         3            2       0.5 
DTN                                 -1.1       0.4          1.2       0.2 
Excel Futures                       -1.4       1.1          2.7       0.4 
Spartan Capital Securities          -1.5       2.1          0.8       n/f 
Mizuho                                 1         2            1       0.3 
Price Futures Group                   -2        -2           -2         1 
Ritterbusch and Associates            -3       2.5          3.0       0.3 
Tradition Energy                    -1.5         3          2.5       n/f 
AVERAGE                             -1.3       1.7          1.2       0.5 

n/f = no forecast

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

December 07, 2021 17:13 ET (22:13 GMT)

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