U.S. Crude-Oil Stockpiles Likely Fell in DOE Data, Analysts Say -- Update
(Adds API data)
By Dan Molinski
U.S. commercial crude-oil stockpiles are expected to have
declined from the previous week in data due Wednesday from the
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 2.1 million barrels for
the week ended Nov. 25, with 10 analysts forecasting a decline and
just one predicting an increase. Forecasts range from a decrease of
3.5 million barrels to an increase of 2.3 million barrels.
Analysts said the likely decrease is partly because of another
smaller-than-normal transfer of crude last week from the nation's
Strategic Petroleum Reserve to the commercial side. The year-long
SPR sales by the U.S. government aim to boost supplies so as to
reduce gasoline prices at the pump, but is beginning to wind
The closely watched survey from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. EST
Gasoline stockpiles are expected to increase by 500,000 barrels
from the previous week, according to analysts. Estimates range from
a decrease of 3 million barrels to an increase of 2.6 million
Stocks of distillates, which include heating oil and diesel, are
expected to rise by 200,000 barrels from the previous week.
Forecasts range from a decrease of 3.1 million barrels to an
increase of 2.1 million barrels.
Refinery use likely increased by 0.1 percentage points from the
previous week to 94.0%. Forecasts range from a 0.6 percentage-point
decrease to a 0.5 percentage-point increase. Two analysts didn't
make a forecast.
The American Petroleum Institute, an industry group, said late
Tuesday its data for the week showed a 7.9 million-barrel decrease
in crude supplies, a 2.9 million-barrel rise in gasoline stocks and
a 4 million-barrel increase in distillate inventories, according to
Crude Gasoline Distillates Use
Again Capital -3.1 1.8 2.1 0.4
Citi Futures -3.5 2.5 1.5 0.5
Commodity Research Group -3.2 -1 1 -0.2
Confluence Investment Management -2 2.5 1.5 0.5
DTN -0.6 -0.8 0.5 -0.3
Excel Futures -3.1 2.6 1.5 -0.6
Spartan Capital Securities 2.3 -1.3 -3.1 n/f
Mizuho -2.5 2 1 0.5
Price Futures Group -2.5 -2 -2.5 unch
Ritterbusch and Associates -1.6 2.0 1.8 0.4
Tradition Energy -3 -3 -2.9 n/f
AVERAGE -2.1 0.5 0.2 0.1
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
November 30, 2022 09:14 ET (14:14 GMT)
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