(This article was originally published Tuesday.)
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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 12 analysts and traders surveyed showed U.S. oil inventories are projected to have decreased by 1.9 million barrels, on average, in the week ended Nov. 24.
Two analysts expect stockpiles to rise and 10 expect them to fall. Forecasts range from a decrease of 4.3 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 600,000 barrels on average, according to analysts. Nine analysts expect them to rise and three expect them to fall. Estimates range from a decline of 3.7 million barrels to a rise of 2.5 million barrels.
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For stocks of distillates, which include heating oil and diesel, eight analysts expect an increase and four analysts expect a decrease. Forecasts range from a decline of 3 million barrels to an increase of 1.5 million barrels.
Refinery use is seen increasing by 0.4 percentage point to 91.7% of capacity. Eight 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 0.5 point to an increase of 1.2 points.
The American Petroleum Institute, an industry group, said late Tuesday that its data for the week showed a 1.8 million-barrel increase in crude supplies, a 1.5 million-barrel fall in gasoline stocks and a 2.7 million-barrel rise in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital -1.3 2.2 0.9 0.3
Citi Futures -3.5 1.5 1 0.5
Commodity Research Group -4.3 -0.3 -1.5 1.2
Confluence Investment Management -2.5 2 1.5 0.5
Energy Management Institute -3.1 1.6 1 0.4
Excel Futures 1.6 1 1.3 0.6
First Standard Financial -2 -3.7 0.9 N/A
IAF Advisors -2.5 0.5 0.5 N/A
Mizuho -4 0.5 0.5 0.5
Price Futures Group -3 -3 -3 0
Ritterbusch and Associates -1 2.5 -3 0.8
Tradition Energy 2.5 2 -0.5 -0.5
AVERAGE -1.9 0.6 0.0 0.4
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(END) Dow Jones Newswires
November 29, 2017 09:14 ET (14:14 GMT)