U.S. Crude-Oil Stockpiles Likely Fell in Now-Delayed DOE Data, Analysts Say -- Update
(Adds API data, and EIA release delayed indefinitely because of
By Dan Molinski
U.S. crude-oil stockpiles are expected to have declined from the
previous week in data initially due Thursday but now delayed by the
Energy Department, according to a survey of analysts and traders by
The Wall Street Journal.
The closely watched survey from the DOE's Energy Information
Administration was scheduled for release at 11 a.m. EDT Thursday,
but has been pushed back indefinitely due to "systems" issues, the
EIA said late Wednesday.
Estimates from 11 analysts and traders showed U.S. oil
inventories are projected to have declined by 1.2 million barrels
for the week ended June 17. Nine of the analysts surveyed are
expecting a decline, while two forecast an increase. Forecasts
range from a decrease of 3.5 million barrels to an increase of 2.4
Gasoline stockpiles are expected to decrease by 800,000 barrels
from the previous week, according to analysts. Estimates range from
a decrease of 2 million barrels to an increase of 1 million
Stocks of distillates, which include heating oil and diesel, are
expected to rise by 300,000 barrels from the previous week.
Forecasts range from a decrease of 2 million barrels to an increase
of 1.9 million barrels.
Refinery use likely rose by 0.5 percentage point from the
previous week, to 94.2% of capacity. Forecasts range from increases
of 0.3 percentage point to 1 percentage point. Two analysts didn't
make a forecast.
The American Petroleum Institute, an industry group, said late
Wednesday its data for the week showed a 5.6 million-barrel
increase in crude supplies, a 1.2 million-barrel rise in gasoline
stocks and a 1.7 million-barrel decrease in distillate inventories,
according to a source.
Crude Gasoline Distillates Use
Again Capital -2.2 0.8 1.7 0.3
Citi Futures -3.5 1 1 0.5
Commodity Research Group 1.1 -0.3 0.7 0.5
Confluence Investment Management -3 -1 unch 0.5
DTN -1 -0.5 0.8 0.4
Excel Futures 2.4 -1.7 -0.8 0.3
Spartan Capital Securities -2.6 -1.4 1.9 n/f
Mizuho -2 -1 -0.5 0.5
Price Futures Group -1 -2 -2 1
Ritterbusch and Associates -0.8 -1.5 0.4 0.4
Tradition Energy -0.8 -0.8 0.1 n/f
AVERAGE -1.2 -0.8 0.3 0.5
n/f = no forecast
unch = unchanged
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
June 22, 2022 17:18 ET (21:18 GMT)
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