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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.
Estimates from 13 analysts and traders surveyed showed U.S. oil inventories are projected to have decreased by 1.5 million barrels, on average, in the week ended Nov. 17.
Three analysts expect stockpiles to rise and 10 expect them to fall. Forecasts range from a decrease of 4 million barrels to an increase of 2.5 million barrels.
The closely watched survey from the Energy Information Administration is due at 10:30 a.m. EST Wednesday.
Gasoline stockpiles are expected to rise by 100,000 million barrels on average, according to analysts. Eight analysts expect them to rise and five expect them to fall. Estimates range from a decline of 3.8 million barrels to a rise of 2.5 million barrels.
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Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.4 million barrels. One analyst expects an increase and 12 analysts expect a decrease. Forecasts range from a decline of 3 million barrels to an increase of 400,000 barrels.
Refinery use is seen increasing by 0.4 percentage point to 91.4% of capacity. Nine analysts expect an increase and one expects a decrease. One expects no change and two didn't report expectations. Forecasts range from a drop of one point to an increase of one point.
The American Petroleum Institute, an industry group, said late Tuesday that its data for the week showed a 6.4 million-barrel decrease in crude supplies, an 869,000-barrel rise in gasoline stocks and a 1.7 million-barrel decline in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital -0.5 1.1 -0.9 0.3
Citi Futures -2.5 0.5 -1.0 0.5
Commodity Research Group -2.2 -0.4 -2.1 0
Confluence Investment Management 1.0 2.5 -1.0 0.5
Energy Management Institute -2.3 1.0 -2.1 0.6
Excel Futures 0.8 1.5 0.4 0.9
First Standard Financial -1.7 -3.8 -0.6 N/A
IAF Advisors -4.0 -0.5 -0.5 N/A
Mizuho -2.3 0.5 -1.0 0.5
Price Futures Group -3.2 -1.0 -3.0 1.0
Ritterbusch and Associates -2.0 0.7 -1.9 1.0
Schneider Electric -3.0 1.5 -1.8 0.25
Tradition Energy 2.5 -2.0 -3.0 -1.0
AVERAGE -1.5 0.1 -1.4 0.4
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(END) Dow Jones Newswires
November 21, 2017 17:04 ET (22:04 GMT)