U.S. Crude-Oil Stockpiles Likely Declined in DOE Data, Analysts Say -- Update
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By Dan Molinski
U.S. crude-oil stockpiles are expected to decrease from the
previous week in data due Thursday from the U.S. Energy Department,
according to a survey of analysts and traders by The Wall Street
Estimates from 10 analysts and traders showed U.S. oil
inventories are projected to have fallen by 800,000 barrels for the
week ended Jan. 14. Seven of the analysts forecast a decline, while
three predicted an increase, with forecasts ranging from a decrease
of 3.3 million barrels to an increase of 3 million barrels.
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 11 a.m. ET Thursday, a
day later than normal due to Monday's Martin Luther King Jr.
Gasoline stockpiles are expected to rise by 2.1 million barrels
from the previous week, according to analysts. Estimates range from
a decrease of 2.4 million barrels to an increase of 4 million
Stocks of distillates, which include heating oil and diesel, are
expected to decrease by 700,000 barrels from the previous week.
Forecasts range from a decrease of 3.9 million barrels to an
increase of 2 million barrels.
Refinery use likely fell by 0.2 percentage point from the
previous week, to 88.2% of capacity. Forecasts range from a
decrease of 0.8 percentage point to an increase of 0.5 percentage
point. One analyst didn't make a forecast.
The American Petroleum Institute, an industry group, said
Wednesday its data for the week showed a 1.4 million-barrel
increase in crude supplies, a 3.5 million-barrel rise in gasoline
stocks and a 1.2 million-barrel decline in distillate inventories,
according to a source.
Crude Gasoline Distillates Use
Again Capital -1.4 -2.4 -1.9 -0.8
Citi Futures -1.5 3.5 -1.5 -0.5
Commodity Research Group 1.8 2.2 -1 -0.4
Confluence Investment Management 3 4 -0.5 -0.7
DTN -1.2 2.2 1.1 -0.6
Excel Futures -3.3 3.8 2 0.4
Spartan Capital Securities 1.5 1.3 -3.9 n/f
Mizuho -2 3 1 0.4
Price Futures Group -3 1 -1 0.5
Ritterbusch and Associates -1.4 2.4 -1.3 -0.5
AVERAGE -0.8 2.1 -0.7 -0.2
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 email@example.com
(END) Dow Jones Newswires
January 19, 2022 17:06 ET (22:06 GMT)
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