By Timothy Puko
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 13 analysts and traders surveyed showed U.S. oil inventories are projected to have increased by 700,000 barrels, on average, in the week ended Jan. 6.
Eight analysts expect stockpiles to rise and five expect them to fall. Forecasts range from a decrease of 3 million barrels to an increase of 4 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 of1.6 million barrels on average, according to analysts. Nine analysts expect them to rise and four analysts expect them to fall. Estimates range from a fall of 3 million barrels to an increase of 5.5 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to rise by 500,000 barrels. Seven analysts expect an increase and six expect a decrease. Forecasts range from a decline of 3 million barrels to an increase of 3.5 million barrels.
Refinery use is seen falling 0.1 percentage point to 91.9% of capacity. Four analysts expect an increase, seven expect a decrease and two didn't report expectations. Forecasts range from a decrease of 1 point to an increase of 1 point.
The American Petroleum Institute, an industry group, said late Tuesday its data for the week showed a 1.5 million-barrel increase in crude supplies, a 1.7 million-barrel rise in gasoline stocks and a 5.5 million-barrel increase in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital 2.6 3.3 2.2 -0.3
Citi Futures Perspective -1.5 2.5 3.5 -0.5
Commodity Research Group -0.9 -1.6 -2.5 -0.7
Confluence Investment Management 1 3.5 2 -1
Energy Management Institute -1.8 2.2 2.7 0.8
Excel Futures 1.593 -0.793 -1.611 -0.2
First Standard Financial -1.346 -0.576 -0.7 n/a
Frost & Sullivan 2.5 1 -2 0.5
Ion Energy Group 2 3 3 n/a
Price Futures Group 4 -3 -3 1
Ritterbusch and Associates 2 5.5 3.4 -1
Schneider Electric -32.5 -1.5 0.5
Tradition Energy 2 3.5 1 -0.5
AVERAGE 0.7 1.6 0.5 -0.1
(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 Tim Puko at email@example.com
(END) Dow Jones Newswires
January 10, 2017 17:38 ET (22:38 GMT)
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