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

By Alison Sider 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 showed U.S. oil inventories are projected to have decreased by 3.2 million barrels, on average, in the week ended Dec. 15.

Ten analysts expect stockpiles to fall and one expects them to rise. Forecasts range from a decrease of 6 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. ET Wednesday.

Gasoline stockpiles are expected to grow by 1.1 million barrels on average, according to analysts. Nine analysts expect them to rise and two expect them to fall. Estimates range from a decline of 3.3 million barrels to an increase of 3.8 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 500,000 barrels. Three analysts expect an increase, seven expect a decrease, and one expects no change. Forecasts range from a fall of 2.6 million barrels to an increase of 1.9 million barrels.

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Refinery use is seen increasing by 0.1 percentage point to 93.5% of capacity. Four analysts expect an increase, four expect a decrease, one expects no change, and two didn't report expectations. Forecasts range from a decrease of 0.5 percentage point to an increase of 1 percentage point.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 5.2-million-barrel decrease in crude supplies, a 2-million-barrel rise in gasoline stocks and a 2.9-million-barrel fall in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use

Citi Futures -3.5 2 -1 0.5

Commodity Research Group -3.3 2.4 -0.5 -0.3

Confluence Investment Management -2 2 1 0

Energy Management Institute -3.7 2.1 -1.4 0.4

Excel Futures -2.9 3.8 -2.6 0.6

First Standard Financial -3.8 -1.8 1.9

IAF Advisors -6 0.5 0

Price Futures Group -4.5 -3.3 -2.5 1

Ritterbusch and Associates -4 1.4 -1 -0.5

Schneider Electric -4.4 1.1 -0.5 -0.25

Tradition Energy 2.5 2 1 -0.5

AVERAGE -3.2 1.1 -0.5 0.1

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

(END) Dow Jones Newswires

December 19, 2017 16:59 ET (21:59 GMT)