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 100,000 barrels, on average, in the week ended Nov. 25.
Five analysts expect stockpiles to rise and six expect them to decline. Forecasts range from a decrease of 3 million barrels to an increase of 3 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 1 million barrels on average, according to analysts. Two analysts expect gasoline stockpiles to fall, eight expect them to rise and one expects no change. Estimates range from a fall of 1.9 million barrels to an increase of 2.6 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to increase by 1 million barrels. Nine analysts expect stockpiles to increase and two expect them to decrease. Forecasts range from a decline of 2 million barrels to a rise of 3.5 million barrels.
Refinery use is seen rising 0.8 percentage point to 91.6% of capacity, based on EIA data. Seven analysts expect a rise, one expects a decline and one expects no change. Two didn't report expectations. Forecasts range from a decrease of 0.7 point to an increase of 2 points.
The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 700,000-barrel decrease in crude supplies, a3.3-million-barrel increase in gasoline stocks and a 2.2-million-barrel increase in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Citi Futures 1.5 1.5 1 1
Commodity Research Group 2.2 1 0.5 -0.7
Confluence Investment Management -1.5 2.5 3.5 2
Energy Management Institute 1.9 1.6 1 0.9
First Standard Financial -0.35 -1.9 1.1
Frost & Sullivan 2 -1 1.5 0.5
IAF Advisors -1.5 0 1.5
Mizuho -1 1.5 -0.5 0
Price Futures Group -3 1 -2 1
Ritterbusch and Associates 3 2 2.8 1.8
Schneider Electric -1.8 2.6 0.9 0.4
AVERAGE 0.1 1.0 1.0 0.8
(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 Stephanie Yang at firstname.lastname@example.org
(END) Dow Jones Newswires
November 29, 2016 17:06 ET (22:06 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.