U.S. Crude-Oil Stockpiles Likely Increased in DOE Data, Analysts Say -- Update

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By Dan Molinski

U.S. commercial crude-oil stockpiles are expected to have increased 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 10 analysts and traders showed U.S. oil inventories are projected to have increased by 2.2 million barrels for the week ended Sept. 16, with all 10 analysts predicting a rise. Forecasts range from increases of 500,000 barrels to 4 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 decrease by 500,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 2.5 million barrels to an increase of 1.7 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to rise by 500,000 barrels from the previous week. Forecasts range from a decrease of 4 million barrels to an increase of 4 million barrels.

Refinery use likely slipped by 0.1 percentage point from the previous week to 91.4%. Forecasts range from a 0.9 percentage-point decrease to a 1 percentage-point increase. Two analysts didn't make a forecast.

The American Petroleum Institute, an industry group, said Tuesday its data for the week showed a 1 million-barrel increase in crude supplies, a 3.2 million-barrel rise in gasoline stocks and a 1.5 million-barrel increase in distillate inventories, according to a source.

 
                                                                    Refinery 
                                    Crude   Gasoline    Distillates   Use 
Again Capital                        2.4       1.1          1.9       0.6 
Commodity Research Group             1.7       0.1          0.9      -0.9 
Confluence Investment Management       2       0.5         -1.5       0.5 
DTN                                  2.1      -0.8          1.8      -0.8 
Excel Futures                        3.3      -1.8          3.1      -0.6 
Spartan Capital Securities           0.5       1.7          1.1       n/f 
Mizuho                                 2        -1           -1      -0.4 
Price Futures Group                    4      -2.5           -4         1 
Ritterbusch and Associates           1.5      -1.0         -1.0      -0.3 
Tradition Energy                     2.4      -1.5            4       n/f 
 
AVERAGE                              2.2      -0.5          0.5      -0.1 
 

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 [e-mail]

(END) Dow Jones Newswires

09-20-22 1708ET