By Paulo Trevisani
U.S. crude-oil stockpiles are expected to have fallen 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 11 analysts and traders showed U.S. oil inventories are projected to have declined by 600,000 barrels for the week ended May 20. Eight of the analysts forecast a decrease, while three predicted an increase. Forecasts range from a decrease of 3.5 million barrels to an increase of 2.5 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 1.2 million barrels from the previous week, according to analysts. Estimates range from a decrease of 3.1 million barrels to an increase of 1.3 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to rise by 200,000 barrels from the previous week. Forecasts range from a decrease of 2 million barrels to an increase of 1.5 million barrels.
Refinery use likely increased by 0.7 percentage point from the previous week, to 92.5% of capacity. Forecasts range from increases of 0.3 to 1.2 percentage point. Two analysts didn't make a forecast.
Crude Gasoline Distillates Refinery Use
Again Capital 1.6 -2 1.3 0.4
Citi Futures -3.5 -2 1.5 1
Commodity Research Group 2.5 1.3 1.1 1.2
Confluence Investment Management -1.5 -0.5 0.5 0.7
DTN -1 -0.5 0.5 0.3
Excel Futures -2.8 -1.6 -1.1 0.8
Spartan Capital Securities -0.5 -3.1 1.3 n/f
Mizuho -3 -2 -0.5 0.7
Price Futures Group 2.5 1 1.5 0.5
Ritterbusch and Associates -1.2 -2.0 -2.0 0.5
Tradition Energy -0.2 -1.5 -1.8 n/f
AVERAGE -0.6 -1.2 0.2 0.7
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 Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
05-24-22 1237ET
