U.S. crude-oil stocks are expected to show an increase in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from eight analysts and traders showed U.S. oil inventories are projected to have increased by 1.8 million barrels, on average, in the week ended Jan. 26.
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Seven analysts expect stockpiles to rise and two expected them to fall. Forecasts range from a decrease of 1.5 million barrels to an increase of 5.5 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 1.8 million barrels on average, according to analysts. All eight analysts expect them to rise. Estimates range from an increase of 1 million barrels to an increase of 3.2 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall by 900,000 barrels. Two analysts expect an increase and seven expect a decrease. Forecasts range from a fall of 2.8 million barrels to an increase of 500,000 barrels.
Refinery use is seen falling 0.3 percentage point to 90.6% of capacity. Two analysts expect an increase, five expect a decrease, and one did not report expectations. Forecasts range from a decrease of 1.6 percentage points to an increase of 0.5 percentage point.
The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 3.2-million-barrel increase in crude supplies, a 2.7 million-barrel rise in gasoline stocks and a 4.1-million-barrel decrease in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital 2.2 3.2 -0.9 -0.4
Citi Futures -1.5 1.5 -1.5 0.5
Commodity Research Group 0.8 2 -1.6 -0.4
Confluence Investment Management 3 2 -1 -0.5
Excel Futures 0.54 2 -2.8 -1.6
ION Energy 1.5 1 -0.5 n/a
Ritterbusch and Associates 5.5 1 -1.9 0.5
Schneider Electric 2.3 1.5 0.5 -0.5
AVERAGE 1.8 1.8 -1.2 -0.3
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(END) Dow Jones Newswires
January 30, 2018 17:14 ET (22:14 GMT)