By Alison Sider
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 that U.S. oil inventories are projected to have increased by 1 million barrels, on average, in the week ended Oct. 28.
Ten analysts expect stockpiles to rise and three expect them to fall. Forecasts range from a decrease of 3 million barrels to an increase of 3.3 million barrels. The closely watched survey from the Energy Information Administration is due at 10:30 a.m. EDT Wednesday.
Gasoline stockpiles are expected to fall by 1.1 million barrels on average, according to analysts. All 13 analysts expect stockpiles to fall. Estimates range from a fall of 2 million barrels to a decline of 100,000 barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.6 million barrels. Twelve analysts expect stockpiles to decrease and one expects them to increase. Forecasts range from a decline of 3 million barrels to an increase of 1.7 million barrels.
Refinery use is seen increasing 0.5 percentage point to 86.1% of capacity, based on EIA data. Eleven analysts expect a rise, two didn't report expectations. Forecasts range from an increase of 0.25 percentage point to an increase of 1 percentage point.
The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 9.3-million-barrel increase in crude supplies, a 3.6-million-barrel decrease in gasoline stocks and a 3.1-million-barrel decline in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital 3.3 -1.1 -2.4 0.6
Commodity Research Group -0.7 -0.1 -0.3 0.5
Confluence Investment Management 2 -1 -2 0.5
Energy Management Institute 2.2 -1.5 -2.2 0.3
Excel Futures -2 -0.4 -1.7 0.4
First Standard Financial 0.03 -0.6 1.7
Frost & Sullivan 2 -1.5 -1.75 0.5
Mizuho 1.5 -0.5 -1 0.4
Price Futures Group -3 -2 -2 0.5
Ritterbusch and Associates 1.3 -1 -1.5 1
Schneider Electric 2 -2 -1.5 0.25
Tradition Energy 3-1.5 -3 0.5
Tyche Capital Advisors 2 -1 -2.5
AVERAGE 1.0 -1.1 -1.6 0.5
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(END) Dow Jones Newswires
November 01, 2016 17:10 ET (21:10 GMT)
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