U.S. Crude Oil Stocks Expected to Show Decrease in DOE Data

By Alison Sider Features Dow Jones Newswires

U.S. crude-oil stocks are expected to show a decrease in data due Thursday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.

Continue Reading Below

Estimates from nine analysts and traders surveyed showed that U.S. oil inventories are projected to have decreased by 2.5 million barrels, on average, in the week ended June 30.

All nine analysts expect stockpiles to shrink. Forecasts range from a decrease of 4.2 million barrels to a decrease of 1.5 million barrels.

The closely watched survey from the Energy Information Administration is due at 10:30 a.m. EDT Thursday.

Gasoline stockpiles are expected to show a decrease of 1.4 million barrels on average, according to analysts. One expects them to rise, seven expect them to fall, and one expects no change. Estimates range from a fall of 3 million barrels to an increase of 500,000 barrels.

Stocks of distillates, which include heating oil and diesel, are expected to shrink by 100,000 barrels. Five analysts expect an increase, three expect a decrease and one expects no change. Forecasts range from a decline of 3 million barrels to an increase of 900,000 barrels.

Continue Reading Below

Refinery use is seen gaining 0.6 percentage point to 93.1% of capacity, based on EIA data. Eight analysts expect an increase, and one did not report expectations. Forecasts range from an increase of 0.25 percentage point to an increase of 1.1 percentage points.

Crude Gasoline Distillates Refinery Use

Again Capital -1.6 -2.6 0.9 0.4

Citi Futures -2.5 -1 0 0.5

Commodity Research Group -1.5 -1.8 -1.4 1.1

Confluence Investment Management -3 0.5 0.5 0.5

Energy Management Institute -2.1 -0.5 0.7 0.3

First Standard Financial -1.7 -2.5 -0.18

Price Futures Group -3 -3 -3 1

Ritterbusch and Associates -4.2 0 0.6 1

Schneider Electric -2.5 -2 0.75 0.25

AVERAGE -2.5 -1.4 -0.1 0.6

(Figures in millions of barrels except for refining capacity, which is reported in percentage points. For analysts providing forecasts in a range, the average of the upper and lower ends of the range is used.)

(MORE TO FOLLOW) Dow Jones Newswires

July 05, 2017 16:04 ET (20:04 GMT)