(This article was originally published Tuesday.)
By Nicole Friedman
NEW YORK--U.S. crude-oil stocks are expected to rise in data due
Wednesday from the Department of Energy, according to a survey of
analysts by The Wall Street Journal.
Estimates from nine analysts surveyed showed that U.S. oil
inventories are projected to have risen by 900,000 barrels, on
average, in the week ended Sept. 26.
Six analysts expect stockpiles to grow, while three expect a
fall. Forecasts range from a rise of 3 million barrels to a drop of
1.5 million barrels.
The closely watched survey from the Energy Information
Administration is due at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to fall by 800,000 barrels,
according to analysts. Seven analysts expect a decline, with one
expecting a rise and another seeing no change. Estimates range from
a rise of 300,000 barrels to a drop of 2 million barrels.
Stocks of distillates, which include heating oil and diesel, are
expected to decline by 200,000 barrels. Four analysts expect a
fall, while five see an increase. Forecasts range from a drop of
1.5 million barrels to a gain of 1.5 million barrels.
Refinery use is seen falling 0.9 percentage point to 92.5% of
capacity, based on EIA data. Eight analysts expect a decline and
one didn't provide an estimate. Forecasts range from a decline of
0.2 point to a drop of 2.6 point.
The American Petroleum Institute, an industry group, said late
Tuesday that its own data for the same week showed a 463,000-barrel
draw in oil supplies, a 2.5 million-barrel drop in gasoline
supplies and a 1.8 million-barrel decline in distillate stocks,
according to industry sources.
Crude Gasoline Distillates Refinery Use
Confluence Investment Management 1.5 -0.5 -1.5 -1.5
Energy Management Institute 0.5 -0.5 0.5 -0.2
Excel Futures -0.9 -0.6 0.2 -2.6
IAF Advisors 1.5 unch -1.0 n/a
Jefferies LLC -0.4 0.3 0.1 -0.2
Oil Outlooks -1.5 -1.75 1.5 -0.5
Price Futures Group 2.0 -2.0 -1.0 -0.5
Ritterbusch and Associates 3.0 -1.2 0.5 -0.6
Tradition Energy 2.0 -1.0 -1.5 -1.2
AVERAGE 0.9 -0.8 -0.2 -0.9
(Figures in millions of barrels except for refining capacity,
which is reported in percentage points. For analysts providing
forecasts in a range, the average of the upper and lower ends of
the range is used.)
Write to Nicole Friedman at nicole.friedman@wsj.com