U.S. Crude-Oil Stocks Seen Decreasing in DOE Data -- Update

By Stephanie Yang Features Dow Jones Newswires

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

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Estimates from 11 analysts and traders surveyed showed U.S. oil inventories are projected to have decreased by 300,000 barrels, on average, in the week ended Sept. 29.

Four analysts expect stockpiles to rise and seven expect them to fall.

Forecasts range from an increase of 2.7 million barrels to a decrease of 3 million barrels.

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

Gasoline stockpiles are expected to show an increase of 1.2 million barrels on average, according to analysts. Ten analysts expect them rise and one expects them to fall. Estimates range from a decline of 1.4 million to an increase of 2.8 million barrels.

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Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.8 million barrels. Ten analysts expect a decrease and one expects an increase. Forecasts range from an increase of 500,000 barrels to a fall of 3 million barrels.

Refinery use is seen increasing by 1.1 percentage points to 89.7% of capacity.

Eight analysts expect an increase and one expects a decrease. Two didn't report expectations. Forecasts range from a decline of 0.5 point to an increase of 2 points.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 4.1-million-barrel decrease in crude supplies, a 4.2-million-barrel increase in gasoline stocks and a 600,000-barrel decline in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use

Citi Futures -1.5 1 -2 1

Commodity Research Group 2.7 -1.4 - 0.8 1.7

Confluence Investment Management 2 1 -2 2

Energy Management Institute -1.8 1.3 -2 1.5

First Standard Financial -1.4 2.8 -0.9 N/A

IAF Advisors 2 0.5 -1.5 N/A

Mizuho -0.5 2 0.5 0.5

Price Futures Group -3 1 -3 1

Ritterbusch and Associates -2.0 1.6 -3.0 -0.5

Schneider Electric -2.6 1.8 -2.2 0.5

Tradition Energy 2.5 2 -2.5 2

AVERAGE -0.3 1.2 -1.8 1.1

Write to Stephanie Yang at stephanie.yang@wsj.com

(END) Dow Jones Newswires

October 03, 2017 17:19 ET (21:19 GMT)