U.S. Crude-Oil Stockpiles Likely Increased in DOE Data, Analysts Say -- Update
27 October 2021 - 8:20AM
Dow Jones News
By Dan Molinski
U.S. crude-oil stockpiles are expected to increase slightly from
the previous week in data due Wednesday from the U.S. 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 climbed by 500,000 barrels for
the week ended Oct. 22, with seven analysts forecasting an increase
and four analysts predicting a decline. Forecasts ranged from a
decrease of 4 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. EDT
Wednesday.
Gasoline stockpiles are expected to fall by 1.8 million barrels
from the previous week, according to analysts. Estimates range from
a decrease of 3 million barrels to an increase of 1.2 million
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall 2.1 million barrels from the previous week.
Forecasts range from decreases of 300,000 barrels to 3 million
barrels.
Refinery use likely rose by 0.2 percentage point from the
previous week, to 84.9% of capacity. Forecasts range from a decline
of 1 percentage point to an increase of 1.7 percentage points. Two
analysts didn't make a forecast.
The American Petroleum Institute, an industry group, said late
Tuesday that its own data for the week showed a 2.3-million-barrel
increase in crude supplies, a 530,000-barrel rise in gasoline
stocks and a 1-million-barrel increase in distillate inventories,
according to a source.
Refinery
Crude Gasoline Distillates Use
Again Capital 2.4 -1.3 -2.6 0.8
Citi Futures 2.5 -2.5 -2.5 -1
Commodity Research Group -1.6 -0.5 -1.4 -0.6
Confluence Investment Management 2 -2.5 -3 0.5
DTN 0.5 1.2 -2.4 -0.5
Excel Futures 2.8 -2.5 -1.9 1.7
Spartan Capital Securities -2.9 -1.6 -0.3 n/f
Mizuho 2 -2 -2 -0.3
Price Futures Group -4 -2 -2 1
Ritterbusch and Associates 2.5 -2.8 -2.5 -0.2
Tradition Energy -1 -3 -2.5 n/f
AVERAGE 0.5 -1.8 -2.1 0.2
n/f = no forecast
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
(END) Dow Jones Newswires
October 26, 2021 17:05 ET (21:05 GMT)
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