By Paulo Trevisani
U.S. crude-oil inventories are expected to be roughly unchanged from the previous week in data from the Energy Department due Wednesday, according to a survey by The Wall Street Journal.
Commercial crude stockpiles rose by only 10,000 barrels for the week ended Oct. 20, in the average of estimates from 10 analysts and traders. Four of the forecasters are predicting a decrease, while six are expecting an increase. Expectations range from a decrease of 3 million barrels to an increase of 2.2 million barrels.
The closely watched inventory data from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. EDT Wednesday.
Gasoline inventories are expected to decrease by 300,000 barrels, according to the survey. Estimates range from a decrease of 2.5 million barrels to an increase of 1.5 million barrels.
Stocks of distillates, which are mostly diesel fuel, are expected to decline by 1.1 million barrels. Forecasts range from a decrease of 2.9 million barrels to an increase of 1.1 million barrels.
Refinery use likely increased 0.5 percentage point, to 86.6%. Forecasts range from no change to an increase of 1.5 percentage point. Two analysts didn't make a forecast.
Crude Gasoline Distillates Refinery Use
Again Capital -2.8 1.4 1.1 0.6 Commodity Research Group 1.9 1.3 0.4 0.5 Confluence Investment Management 2 -2.5 -1.5 1.5 DTN 1.1 -0.75 -1.4 0.03 Excel Futures -3 -1.5 -2.2 0.4 Spartan Capital Securities -1.4 1.1 -2.9 n/f Mizuho 2 -1 -2 0.4 Price Futures Group -3 -1 -1 0.0 Ritterbusch and Associates 2.2 -1.4 -1.7 0.7 Tradition Energy 1.1 1.5 -0.25 n/f AVERAGE 0.0 -0.3 -1.1 0.5
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 Paulo Trevisani at paulo.trevisani@wsj.com
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October 24, 2023 at 11:57PM
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