U.S. Crude Oil Stocks Seen Down, Products Up in Week Ended Jan. 12
17 January 2024 - 5:14PM
Dow Jones News
By Anthony Harrup
U.S. crude-oil inventories likely fell last week while gasoline
and distillate stocks are expected to have added to recent hefty
builds, according to a survey by The Wall Street Journal.
Commercial crude stockpiles are seen falling by 900,000 barrels
for the week ended Jan. 12 to 431.5 million barrels, according to
the average estimate of 10 analysts and traders. Estimates range
from a draw of 3.5 million barrels to a build of 2.7 million
barrels. Four predict an increase and six foresee a decrease in
stocks.
Gasoline inventories, which saw unexpectedly large increases the
previous two weeks, are forecast to rise by a further 2.5 million
barrels to 247.5 million barrels, according to the survey.
Estimates range from a build of 5 million barrels to a withdrawal
of 2 million barrels.
Stocks of distillates, mostly diesel fuel, are expected to
increase by 600,000 barrels to 133 million barrels, with forecasts
ranging from a 3.5 million-barrel build to a 2.7 million-barrel
draw.
Refinery capacity use likely fell by 0.6 percentage point to
92.3%. Forecasts range from unchanged to a decline of 1.1
percentage points. Two analysts didn't make a forecast.
The inventory data from the U.S. Energy Information
Administration is scheduled for release Thursday at 11 a.m. ET.
Crude Gasoline Distillates Refinery Use
Again Capital -2.8 1.8 2.3 -0.8
Commodity Research Group 0.3 4.1 1.8 -0.6
Confluence Investment Management 1.2 2.0 3.5 -0.5
DTN -2.4 1.8 1.2 -0.5
Excel Futures 2.7 3.2 -1.5 -1.1
Spartan Capital Securities 1.3 2.9 -2.7 n/f
Mizuho -2.0 3.0 2.0 -0.5
Price Futures Group -2.0 -2.0 -2.0 unch
Ritterbusch and Associates -3.5 3.0 -1.5 -0.7
Tradition Energy -1.8 5.0 3.0 n/f
AVERAGE -0.9 2.5 0.6 -0.6
Note: Numbers in millions of barrels, with the exception of
refinery use, which is in percentage points.
n/f = no forecast
unch = unchanged
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
January 17, 2024 11:59 ET (16:59 GMT)
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