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

U.S. crude-oil stockpiles are expected to increase from the previous week in data due Wednesday from the U.S. 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 climbed by 700,000 barrels for the week ended Oct. 15, with six analysts forecasting an increase and four analysts predicting a decline. Forecasts ranged from a decrease of 4.5 million barrels to an increase of 3.5 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 fall by 1.1 million barrels from the previous week, according to analysts. Estimates range from a decrease of 2.2 million barrels to an increase of 2 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall 900,000 barrels from the previous week. Forecasts range from a decrease of 3 million barrels to an increase of 1 million barrels.

Refinery use likely fell by 0.2 percentage point from the previous week, to 86.5% of capacity. Forecasts range from a decline of 1.8 percentage points to an increase of 1 percentage point. Two analysts didn't make a forecast.

                                   Crude  Gasoline  Distillates   Use
Again Capital                        2.8      -1.9           -1       0.6
Citi Futures                         3.5      -1.5         -1.5        -1
Commodity Research Group               3       0.3          0.1      -0.4
Confluence Investment Management     1.5        -2           -3         1
DTN                                  2.2      -1.6          0.5      -1.8
Spartan Capital Securities          -0.8      -1.6         unch       n/f
Mizuho                                 2      -0.5         -1.5      -0.2
Price Futures Group                 -4.5         2            1         1
Ritterbusch and Associates            -1      -2.2         -2.4      -0.5
Tradition Energy                    -1.5        -2         -1.2       n/f

AVERAGE                              0.7      -1.1         -0.9      -0.2

n/f = no forecast

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
  10-19-21 1217ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

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