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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 13 analysts and traders surveyed showed that U.S. oil inventories are projected to have increased by 1.1 million barrels, on average, in the week ended Nov. 11.
Ten analysts expect stockpiles to rise, two expect them to decline and one expects no change. Forecasts range from a decrease of 2 million barrels to an increase of 2.6 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 a decrease of 500,000 barrels on average, according to analysts. Five analysts expect a rise and eight analysts expect a fall. Estimates range from a rise of 2.5 million barrels to a fall of 2.9 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall by 1.8 million barrels. One analyst expects an increase and 12 expect a decrease. Forecasts range from a decline of 3 million barrels to an increase of 400,000 million barrels.
Refinery use is seen rising 0.8 percentage point to 87.9% of capacity, based on EIA data. Ten analysts expect an increase and three didn't report expectations. Forecasts range from an increase of 0.4 point to an increase of 1.3 points.
The American Petroleum Institute, an industry group, said late Tuesday its own data for the week showed a 3.7 million-barrel increase in crude supplies, a 155,000-barrel decrease in gasoline stocks and a 3 million-barrel increase in distillate inventories, according to a market participant.
Crude Gasoline Distillates Refinery Use
Again Capital 2.6 -0.7 -1.1 0.7
Commodity Research Group 2.3 -2.9 0.4 0.4
Confluence Investment Management 0.5 0.5 -2.5 1
Energy Management Institute 1.8 0.9 -1.6 1.3
Excel Futures 2.2 -1.1 -2.4 0.7
First Standard Financial -0.7 1.7 -0.9
Frost & Sullivan 1.5 -1.5 -2 0.5
IAF Advisors 0 2.5 -1.5
Mizuho 1.5 -2 -2 0.5
Price Futures Group -2 -2 -2 1
Schneider Electric 1.5 1.5 -2.2 0.5
Tradition Energy1.5 -0.5 -3 1
Tyche Capital Advisors 1.5 -2.5 -2
AVERAGE 1.1 -0.5 -1.8 0.8
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(END) Dow Jones Newswires
November 15, 2016 17:29 ET (22:29 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.