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By Dan Molinski
U.S. commercial crude-oil stockpiles are expected to have increased slightly from the previous week in data due Wednesday from the Energy Department, according to a survey by The Wall Street Journal.
Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have risen by 100,000 barrels for the week ended Jan. 20, with four analysts forecasting a decline and seven predicting an increase. Forecasts range from a decrease of 5 million barrels to an increase of 4.6 million barrels.
The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. EST Wednesday.
Gasoline stockpiles are expected to increase by 1 million barrels from the previous week, according to analysts. Estimates range from a decline of 3 million barrels to an increase of 3.7 million barrels.
Stocks of distillates, which is mostly diesel fuel, are expected to fall by 1 million barrels from the previous week. Forecasts range from a decrease of 2.9 million barrels to an increase of 2 million barrels.
Refinery use likely increased by 1.4 percentage points from the previous week to 86.7%. Forecasts range from no change to a 3 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 3.4 million-barrel increase in crude supplies, a 620,000-barrel rise in gasoline stocks and a 1.9 million-barrel decrease in diesel inventories, according to a source.
Crude Gasoline Distillates Use
Again Capital 2.8 1.4 -1.6 1.9
Citi Futures 1.5 1.5 -1.5 2.5
Commodity Research Group 0.5 2.5 -0.7 3
Confluence Investment Management -2.5 2 1 2.5
DTN 2.8 2.4 -1.4 0.6
Excel Futures 4.6 3.7 -1.8 0.6
Spartan Capital Securities 0.9 1.2 -2.9 n/f
Mizuho 2 1 -2 1
Price Futures Group -4 -3 2 unch
Ritterbusch and Associates -2 0.8 0.3 0.4
Tradition Energy -5 -3 -2.5 n/f
AVERAGE 0.1 1.0 -1.0 1.4
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 email@example.com.
(END) Dow Jones Newswires