By Nicole Friedman
NEW YORK--U.S. crude-oil stocks are expected to rise in data due
Wednesday from the Department of Energy, according to a survey of
analysts by The Wall Street Journal.
Estimates from 10 analysts surveyed showed that U.S. oil
inventories are projected to have risen by 1.1 million barrels, on
average, in the week ended May 1.
Eight analysts expect stockpiles to rise, while another two
expect a fall. Forecasts range from a rise of 3 million barrels to
a drop of 2 million barrels.
The closely watched survey from the Energy Information
Administration is due at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to rise by 500,000 barrels,
according to analysts. Six analysts expect a gain, with three
expecting a drop and another seeing no change. Estimates range from
a rise of 2.2 million barrels to a drop of 2 million barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 200,000 barrels. Four analysts expect a
decline, while four see an increase and two see no change.
Forecasts range from a drop of 3 million barrels to a gain of 1
million barrels.
Refinery use is seen rising 0.6 percentage point to 91.9% of
capacity, based on EIA data. Nine analysts expect a rise and one
didn't provide an estimate. Forecasts range from a rise of 0.3
point to a gain of 1.0 point.
The American Petroleum Institute, an industry group, is
scheduled to release its inventory data for the same period later
Tuesday.
Crude Gasoline Distillates Refinery Use
Again Capital 2.4 2.2 0.9 0.3
Citi Futures Perspective 1.5 -1.0 unch 0.5
Confluence Investment Management 1.0 unch -1.0 0.7
Energy Management Institute 1.6 0.5 0.5 0.4
Frost & Sullivan -1.5 -2.0 1.0 0.5
IAF Advisors 2.0 2.0 unch n/a
Price Futures Group -2.0 2.0 -3.0 1.0
Ritterbusch and Associates 3.0 0.5 0.6 0.7
Schneider Electric 2.0 1.5 -0.1 0.5
Tradition Energy 1.0 -1.0 -0.5 0.5
AVERAGE 1.1 0.5 -0.2 0.6
(Figures in millions of barrels except for refining capacity,
which is reported in percentage points. For analysts providing
forecasts in a range, the average of the upper and lower ends of
the range is used.)
Write to Nicole Friedman at nicole.friedman@wsj.com