U.S. Crude-Oil Stockpiles Likely Declined in DOE Data, Analysts Say
28 September 2022 - 11:29PM
Dow Jones News
(This article was originally published Tuesday.)
By Dan Molinski
U.S. commercial crude-oil stockpiles are expected to have
decreased slightly 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 nine analysts and traders showed U.S. oil
inventories are projected to have decreased by 300,000 barrels for
the week ended Sept. 23, with five analysts forecasting a decline
and four predicting an increase. Forecasts range from a decrease of
3 million barrels to an increase of 2.5 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 increase by 900,000 barrels
from the previous week, according to analysts. Estimates range from
a decrease of 1 million barrels to an increase of 2.6 million
barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to fall by 100,000 barrels from the previous week.
Forecasts range from a decrease of 2.2 million barrels to an
increase of 2.1 million barrels.
Refinery use likely declined by 0.7 percentage point from the
previous week to 92.9%. Forecasts range from a 1.5 percentage-point
decrease to a 0.3 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 4.2 million-barrel increase
in crude supplies, a 1 million-barrel fall in gasoline stocks and a
438,000-barrel increase in distillate inventories, according to a
source.
Refinery
Crude Gasoline Distillates Use
Again Capital -1.7 2.6 2.1 0.3
Citi Futures -1.5 -1 -1 -1.5
Commodity Research Group 2.3 0.5 0.6 -1.4
Confluence Investment Management 2.5 1 1.5 -1
DTN 0.5 1.2 -0.8 -0.8
Spartan Capital Securities -0.4 1.3 -0.6 n/f
Price Futures Group -2 -1 -2 unch
Ritterbusch and Associates -3 1.5 -2.2 -0.5
Tradition Energy 0.5 1.8 1.2 n/f
AVERAGE -0.3 0.9 -0.1 -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 dan.molinski@wsj.com
(END) Dow Jones Newswires
September 28, 2022 09:14 ET (13:14 GMT)
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