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By Stephanie Yang
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 11 analysts and traders surveyed showed that U.S. oil inventories are projected to have increased by 800,000 barrels, on average, in the week ended Nov. 18.
Seven analysts expect stockpiles to rise and four expect them to decline. Forecasts range from a decrease of 2 million barrels to an increase of 3.5 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 show an increase of 900,000 barrels on average, according to analysts. Two analysts expect gasoline stockpiles to fall, and nine expect them to rise. Estimates range from a fall of 2 million barrels to an increase of 2.5 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall 700,000 barrels. Three analysts expect stockpiles to increase, seven expect them to decrease and one forecasts no change. Forecasts range from a decline of 2.1 million barrels to a rise of 1.2 million barrels.
Refinery use is seen rising 0.5 percentage point to 89.7% of capacity, based on EIA data. Eight analysts expect a rise, one expects a decline and one expects no change. One didn't report expectations. Forecasts range from a decrease of 0.5 point to an increase of 1 point.
The American Petroleum Institute, an industry group, said late Tuesday that its data for the week showed a 1.3 million-barrel decrease in crude supplies, a 2.7 million-barrel increase in gasoline stocks and a 400,000-barrel decrease in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital 2.3 0.9 1.4 0.9
Citi Futures 1.5 1.5 -1 1
Commodity Research Group 1.2 -1.1 1.2 0.5
Confluence Investment Management -0.5 2.5 -1 0.5
Energy Management Institute 2.2 1.7 -1 0.8
Frost & Sullivan -1.5 1.5 -1 0.5
IAF Advisors -0.5 0.5 0
Mizuho 1 0.5 -1 0
Price Futures Group -2 -2 -2 1
Ritterbusch and Associates 2.6 2.2-2.1 1
Tradition Energy 3.5 1.5 1 -0.5
AVERAGE 0.8 0.9 -0.7 0.5
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(END) Dow Jones Newswires
November 22, 2016 17:22 ET (22:22 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.