U.S. Crude-Oil Stockpiles Likely Decreased in DOE Data, Analysts Say
March 22 2023 - 09:29AM
Dow Jones News
(This article was originally published Tuesday.)
By Dan Molinski
U.S. commercial crude-oil stockpiles are expected to have fallen
from the previous week in data due Wednesday from the Energy
Department, according to a survey by The Wall Street Journal.
The average of estimates from 11 analysts and traders showed
U.S. oil inventories are projected to have declined by 1.5 million
barrels for the week ended March 17, 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 1.5 million
The closely watched data from the DOE's Energy Information
Administration is scheduled for release at 10:30 a.m. EDT
Gasoline stockpiles are expected to decline by 1.4 million
barrels from the previous week, according to analysts. Estimates
range from a decrease of 3 million barrels to an increase of 1.2
Stocks of distillates, which is mostly diesel fuel, are expected
to decrease by 1.3 million barrels from the previous week.
Forecasts range from a decrease of 2.7 million barrels to an
increase of 1.5 million barrels.
Refinery use likely increased by 0.7 percentage point from the
previous week to 88.9%. Forecasts range from a 1.2-percentage-point
decline to a 1.1 percentage-point increase. Two analysts didn't
make a forecast.
The American Petroleum Institute, an industry group, said
Tuesday its data for the week showed a 3.3 million-barrel increase
in crude supplies, a 1.1 million-barrel decline in gasoline stocks
and a 1.8 million-barrel decrease in diesel inventories, according
to a source.
Crude Gasoline Distillates Use
Again Capital -1.8 -2.7 -1.4 1.1
Citi Futures -3.5 -2.5 -1.5 1
Commodity Research Group -1.8 -0.4 -1.3 -1.2
Confluence Investment Management 1.5 -1 -1.5 1
DTN -1.2 1.2 0.8 0.5
Excel Futures -1.8 -2.4 -2.7 1.1
Spartan Capital Securities -1.3 0.8 -2.4 n/f
Mizuho -2 -1 1.5 0.5
Price Futures Group -2.5 -3.0 -2.5 1
Ritterbusch and Associates -1 -2.0 -1.8 1.0
Tradition Energy -1.2 -2 -1.2 n/f
AVERAGE -1.5 -1.4 -1.3 0.7
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 firstname.lastname@example.org
(END) Dow Jones Newswires
March 22, 2023 09:14 ET (13:14 GMT)
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