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

By Alison Sider Features Dow Jones Newswires

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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 showed U.S. oil inventories are projected to have decreased by 2.4 million barrels, on average, in the week ended Dec. 1. Two analysts expect stockpiles to rise and 10 expect them to fall. Forecasts range from a decrease of 5 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 grow by 1.7 million barrels on average, according to analysts. Ten analysts expect them to rise and two expect them to fall. Estimates range from a decline of 1.1 million barrels to an increase of 3.5 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to rise by 1 million barrels. Three analysts expect a decrease while nine expect an increase. Forecasts range from a fall of 3.2 million barrels to an increase of 4 million barrels.

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Refinery use is seen increasing by 0.4 percentage point to 93% of capacity. Eight analysts expect an increase, one expects a decrease, one expects no change, and two didn't report expectations. Forecasts range from an decrease of 0.5 percentage points to an increase of 1.2 percentage points.

The American Petroleum Institute, an industry group, said late Tuesday its data for the week showed a 5.5 million-barrel decrease in crude supplies, a 9.2 million-barrel jump in gasoline stocks and a 4.3 million-barrel rise in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use

Again Capital -1.6 2.2 1.6 0.6

Citi Futures -3.5 1.5 1.5 0.5

Commodity Research Group -5 0.6 -0.8 0.4

Confluence Investment Management -2.5 3 2 0

Energy Management Institute -3.3 2 1.6 0.4

Excel Futures 0.5 3.5 2.9 0.3

First Standard Financial -0.6 -1.1 -3.2 n/a

IAF Advisors -4 3 0.5 n/a

Price Futures Group -3.5 -0.2 -1.5 1

Ritterbusch and Associates -4.6 3 4 1.2

Schneider Electric -3.5 1.1 2.7 0.25

Tradition Energy 2.5 2 1 -0.5

AVERAGE -2.4 1.7 1.0 0.4

Write to Alison Sider at alison.sider@wsj.com

(END) Dow Jones Newswires

December 05, 2017 17:34 ET (22:34 GMT)