U.S. Crude-Oil Stocks Seen Decreasing in DOE Data
By Stephanie Yang
U.S. crude-oil stocks are expected to show a decrease in data due Thursday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from 11 analysts and traders surveyed showed U.S. oil inventories are projected to have decreased by 4.7 million barrels, on average, in the week ended Dec. 29.
All eleven analysts expect stockpiles to fall. Forecasts range from a decrease of 1.8 million barrels to a decrease of 7 million barrels.
The closely watched survey from the Energy Information Administration is due at 11 a.m. ET Thursday.
Gasoline stockpiles are expected to rise by 2 million barrels on average, according to analysts. Nine analysts expect them to rise and two expect them to fall. Estimates range from a decline of 2 million barrels to a rise of 4.5 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to increase by 200,000 barrels. Six analysts expect an increase and five analysts expect a decrease. Forecasts range from a decline of 3.6 million barrels to an increase of 4 million barrels.
Refinery use is seen on average falling by 0.1 percentage point to 95.6% of capacity. Four analysts expect an increase and three expect a decrease. One expects no change and three didn't report expectations. Forecasts range from a drop of 1.4 points to an increase of 0.5 point.
Crude Gasoline Distillates Refinery Use Citi Futures -6 2.5 3.5 0.5 Commodity Research Group -4.7 1.8 -2.4 -0.4 Confluence Investment Management -4 3 3 0 Energy Management Institute -5.6 2.1 -1 0.5 First Standard Financial -1.8 -2 -3.6 N/A IAF Advisors -5 3.5 1.5 N/A Mizuho -2.5 2 1 0.5 Price Futures Group -4.5 -1 -3 N/A Ritterbusch and Associates -7 4.5 4.0 0.1 Schneider Electric -5.5 2 -0.8 -0.25 Tradition Energy -5.5 3.5 0.5 -1.4 AVERAGE -4.7 2.0 0.2 -0.1
Corrections & Amplification
This article was corrected January 3, 2018 at 5:06 p.m. EST to show U.S. crude-oil stocks are expected to show a decrease in data due Thursday. The original version of this article incorrectly said Wednesday.
(END) Dow Jones Newswires
January 03, 2018 14:42 ET (19:42 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.