(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 Wednesday.

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 million barrels.

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 paulo.trevisani@wsj.com


(END) Dow Jones Newswires

December 07, 2022 09:14 ET (14:14 GMT)

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