U.S. Crude-Oil Stockpiles Likely Fell in DOE Data, Analysts Say
(This article was originally published Tuesday.)
By Paulo Trevisani
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 1.4 million barrels for
the week ended Dec. 2, with seven analysts forecasting a decline
and four predicting an increase. Forecasts range from a decrease of
5 million barrels to an increase of 2.8 million barrels.
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 1.5 million
barrels from the previous week, according to analysts. Estimates
range from a decrease of 2 million barrels to an increase of 4
Stocks of distillates, which include heating oil and diesel, are
expected to increase by 820,000 barrels from the previous week.
Forecasts range from a decrease of 2.5 million barrels to an
increase of 2.8 million barrels.
Refinery use likely increased by 0.4 percentage points from the
previous week to 95.6%. Forecasts range from a 0.4 percentage-point
decrease to a 0.8 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 6.4 million-barrel decrease
in crude supplies, a 5.9 million-barrel rise in gasoline stocks and
a 3.6 million-barrel increase in distillate inventories, according
to a source.
Crude Gasoline Distillates Refinery Use
Citi Futures -4.5 3.5 2.5 0.3
Commodity Research Group 0.1 0.8 2.2 -0.3
Confluence Investment Management 2.0 4.0 2.5 0.5
DTN -3.2 2.2 0.8 -0.4
Excel Futures 2.7 -1.8 -2.5 0.4
Mizuho Group -3.0 2.0 1.0 0.7
Price Futures Group -4.0 -2.0 -2.0 0.5
Ritterbusch and Associates -5.0 3.1 2.5 0.8
Spartan Capital 2.8 -0.3 -1.0 n/f
Again Capital -2.7 3.4 2.8 0.3
Tradition Energy -0.5 1.2 0.3 n/f
AVERAGE -1.4 1.5 0.82 0.38
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 Paulo Trevisani at firstname.lastname@example.org
(END) Dow Jones Newswires
December 07, 2022 09:14 ET (14:14 GMT)
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