By Dan Molinski
U.S. crude-oil stockpiles are expected to have fallen from the previous week in data due Wednesday from the Department of Energy, according to a survey by The Wall Street Journal.
The average of estimates from nine analysts and traders showed U.S. commercial crude-oil stockpiles are projected to have decreased by 1.7 million barrels for the week ended Aug. 11. Eight of the forecasters are predicting a decrease while one is expecting a week-on-week increase. Expectations range from a decrease of 3.7 million barrels to an increase of 2.5 million barrels.
The closely watched inventory data from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.
Gasoline inventories are expected to fall by 1.2 million barrels from the previous week, according to analysts. Estimates range from a decrease of 3 million barrels to an increase of 100,000 barrels.
Stocks of distillates, which are mostly diesel fuel, are expected to decrease by 100,000 barrels from the previous week. Forecasts range from a decrease of 3 million barrels to an increase of 2.9 million barrels.
Refinery use likely climbed by 0.3 percentage point from the previous week to 94.1%. Forecasts range from a decrease of 0.6 percentage point to an increase of 1 percentage point. Two analysts didn't make a forecast.
Crude Gasoline Distillates Refinery Use Again Capital -1.8 -1.1 -0.9 -0.6 Commodity Research Group -3.7 -0.5 unch 0.5 Confluence Investment Management -2.5 -2 0.5 0.5 DTN -1.6 -1.2 1.4 0.5 Spartan Capital Securities -2.7 -1.4 2.9 n/f Mizuho -1 -1 -0.5 -0.3 Price Futures Group -3 -3 -3 1 Ritterbusch and Associates -1.5 -0.5 -1.3 0.4 Tradition Energy 2.5 0.1 0.4 n/f AVERAGE -1.7 -1.2 -0.1 0.3
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 dan.molinski@wsj.com
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August 15, 2023 at 11:38PM
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U.S. Crude-Oil Stockpiles Likely Declined in DOE Data, Analysts Say - MarketWatch
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