Analysts See Small Weekly Decline in U.S. Crude Oil Stockpiles

By Anthony Harrup

U.S. crude oil inventories likely extended their decline to a fifth consecutive week, while product stocks are seen mixed with an increase in gasoline and a drop in distillates, according to a survey by The Wall Street Journal.

Commercial crude stocks are seen slipping by 200,000 barrels to 410.4 million barrels the week ended Oct. 30, according to the average estimate of nine analysts and traders. Five expect a withdrawal and four predict a build, with estimates ranging from a 4.2 million barrel increase to a 3 million barrel decline.

Gasoline inventories are expected to have increased by 200,000 barrels to 209.4 million barrels. Forecasts range from a 3.1 million barrel drop to a 2.7 million barrel rise.

Stocks of distillate fuel, mostly diesel, are seen down by 1 million barrels to 101.8 million barrels, with estimates ranging from a 2 million barrel decline to an 870,000 barrel increase.

Refineries are expected to have run at 92.9% of capacity, up by one tenth of a percentage point from the previous week. Forecasts range from a 0.9 percentage point increase to a 0.6 percentage point decrease. Two analysts didn't forecast refinery runs.

The U.S. Energy Information Administration is scheduled to release the inventory data on Wednesday at 10:30 a.m. EST.

 
                                    Crude    Gasoline  Distillates Refinery Use 
   Again Capital                    -1.4        2.3       -1.8        0.9 
   Confluence Investment Management  2.0       -0.8       -0.5       -0.6 
   Rystad Energy                     4.2       -1.1        0.9        0.2 
   Excel Futures                    -2.1        2.7       -2.0       -0.3 
   Spartan Capital Securities        0.5       -2.7       -1.4        n/f 
   Mizuho                           -3.0        1.0       -2.0        0.6 
   Price Futures Group              -2.0        1.0       -1.2       -0.5 
   Ritterbusch and Associates        1.5       -3.1        0.3        0.3 
   Tradition Energy                 -1.9        2.5       -1.5        n/f 
 
   AVERAGE                          -0.2        0.2       -1.0        0.1 
 

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

n/f = no forecast

unch = unchanged

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

November 03, 2026 11:50 ET (16:50 GMT)