(This article was originally published Tuesday.)
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U.S. crude-oil stocks are expected to show a decline in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from nine analysts and traders surveyed showed that U.S. oil inventories are projected to have decreased by 3.1 million barrels, on average, in the week ended July 14.
All nine analysts expect stockpiles to shrink. Forecasts range from a decrease of 1 million to 4.9 million barrels.
The closely watched survey from the Energy Information Administration is due at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to show a decrease of 600,000 barrels, on average, according to analysts. Two expect them to rise, six expect them to fall and one expects no change. Estimates range from a fall of 2.7 million barrels to an increase of 1.5 million barrels.
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Stocks of distillates, which include heating oil and diesel, are expected to rise by 700,000 million barrels. Seven analysts expect an increase and two expect a decrease. Forecasts range from a decline of 2.8 million barrels to an increase of 3.6 million barrels.
Refinery use is seen rising 0.4 percentage point to 94.9% of capacity, based on EIA data. Seven analysts expect an increase and two didn't report expectations. Forecasts range from an increase of 0.1 to 0.5 percentage point.
The American Petroleum Institute, an industry group, said late Tuesday its data for the week showed a 1.6 million-barrel increase in crude supplies; a 5.4 million-barrel decline in gasoline stocks; and a 2.9 million-barrel decrease in distillate inventories, according to market participants.
Crude Gasoline Distillates Refinery Use
Citi Futures Perspective -3.5 0 1.5 0.5
Confluence Investment Management -1 1.5 0.5 0.5
Energy Management Institute -3.6 -0.3 2 0.4
Excel Futures -4.923 -1.386 3.571 0.4
First Standard Financial -1.67557 -0.78959 -2.789 n/a
Ion Energy Group -2 1.5 1 n/a
Price Futures Group -3.5 -2.7 -1.7 0.1
Ritterbusch and Associates -4.5 -1.8 1.3 0.2
Schneider Electric -2.8 -1.3 0.5 0.5
AVERAGE -3.1 -0.6 0.7 0.4
High -1 1.5 3.571 0.5
Low -4.923 -2.7 -2.789 0.1
(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.)
Write to Tim Puko at firstname.lastname@example.org
(END) Dow Jones Newswires
July 19, 2017 09:14 ET (13:14 GMT)