By Dan Molinski
U.S. crude-oil stockpiles are expected to have risen 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 ten analysts and traders showed U.S. oil inventories are projected to have increased by 1 million barrels for the week ended Sept. 9. Three of the analysts surveyed are expecting a decline, while seven forecast an increase. Forecasts range from a decrease of 2.1 million barrels to an increase of 4.1 million barrels.
The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are expected to decrease by 600,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 2.5 million barrels to an increase of 2.2 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to rise by 100,000 barrels from the previous week. Forecasts range from a decrease of 2 million barrels to an increase of 1.9 million barrels.
Refinery use was likely unchanged from the previous week at 90.9%. Forecasts range from a 0.5 percentage-point decrease to a 0.8 percentage-point increase. Two analysts didn't make a forecast.
Refinery
Crude Gasoline Distillates Use
Again Capital 1.4 -1.7 0.6 0.8
Commodity Research Group 1.7 -1.7 0.5 -0.4
Confluence Investment Management -1.5 -1.5 -0.5 -0.5
DTN -2.1 0.8 1.1 0.6
Excel Futures 4.1 1.5 1.9 -0.5
Spartan Capital Securities 0.6 2.2 -1.3 n/f
Mizuho 3 -1 -1 -0.4
Price Futures Group 2 -2.5 -2 unch
Ritterbusch and Associates -1.1 -1.7 1.3 0.4
Tradition Energy 1.5 0.1 unch n/f
AVERAGE 1.0 -0.6 0.1 0.0
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
09-13-22 1213ET
