By Alison Sider
U.S. crude-oil stocks are expected to show a decrease in data due Thursday 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 decreased by 1.4 million barrels, on average, in the week ended Dec. 23.
Two analysts expect stockpiles to rise, and nine expect them to decline. Forecasts range from a decrease of 3.5 million barrels to an increase of 2.5 million barrels. The closely watched survey from the Energy Information Administration is due at 11:00 a.m. EST Thursday--a day later than usual due to the closure of the federal government on Monday.
Gasolinestockpiles are expected to show an increase of 400,000 barrels on average, according to analysts. Six analysts expect them to rise, and four analysts expect them to fall. One didn't report expectations. Estimates range from a fall of 3 million barrels to an increase of 2.4 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to grow by 300,000 barrels. Seven analysts expect an increase, and three expect a decrease. One didn't report expectations. Forecasts range from a decline of 3 million barrels to an increase of 3 million barrels.
Refinery use is seen gaining 0.3 percentage point to 91.8% of capacity, based on EIA data. Six analysts expect an increase, one expects a decrease, one expects no change, and three didn't report expectations. Forecasts range from a decrease of 0.3 point to an increase of 0.6 point.
Crude Gasoline Distillates Refinery Use
Again Capital -2.9 1.1 2.4 0.6
Citi Futures -1.5 1.5 1 0.5
Commodity Research Group -2.9 -0.6 1 -0.3
Confluence Investment Management -3.5 1.5 3 0.5
Excel Futures 1.76 -1.46 -2.87 0.3
First Standard Financial -0.79 -0.59 0.5
Frost & Sullivan 2.5 1.5 1 0
Price Futures Group -3 -3 -3
Ritterbusch and Associates -1.5 2.4 2.5 0.2
Tradition Energy -2 1.5 -3 0.5
Tyche Capital Advisors -2
AVERAGE -1.4 0.4 0.3 0.3
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(END) Dow Jones Newswires
December 28, 2016 14:04 ET (19:04 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.