Published: September 19, 2023 at 12:44 p.m. ET
By Dan Molinski
U.S. crude oil inventories are expected to have declined from the previous week, according to data expected Wednesday from the Department of Energy, according to a Wall Street Journal survey.
The average of estimates from 10 analysts and traders shows that U.S. commercial crude oil inventories are expected to have fallen by 1 million barrels…
By Dan Molinski
U.S. crude oil inventories are expected to have declined from the previous week, according to data expected Wednesday from the Department of Energy, according to a Wall Street Journal survey.
The average of estimates from 10 analysts and traders shows that U.S. commercial crude oil inventories are expected to have fallen by 1 million barrels for the week ended September 15. Seven of the forecasters predict a decrease while three expect an increase. Expectations range from a decrease of 3.5 million barrels to an increase of 3.8 million barrels.
Inventory data closely monitored by DOE’s Energy Information Administration is expected to be released Wednesday at 10:30 a.m. EDT.
Gasoline stocks are expected to rise by 500,000 barrels from the previous week, analysts say. Estimates range from a decrease of 3 million barrels to an increase of 3.1 million barrels.
Distillate inventories, primarily diesel fuel, are expected to decline by 200,000 barrels from the previous week. Forecasts range from a decrease of 3 million barrels to an increase of 1.9 million barrels.
Refinery utilization likely fell 0.6 percentage points from the previous week to 93.1%. Forecasts range from a decrease of 1 percentage point to an increase of 0.4 percentage points. Two analysts did not make a forecast.
Crude Gasoline Distillates Refinery Use
Again Capital -1.9 2.2 1.1 0.4 Commodity Research Group -3.5 1.2 1.1 -1 Confluence Investment Management -1.5 -0.5 -1 -1 DTN -2.5 0.5 0.5 -0.5 Excel Futures 3.8 3.1 1.9 -0.7 Spartan Capital Securities 2.6 1.5 1.2 n/f Mizuho 2 1 1 -1 Price Futures Group -3 -3 -3 -1 Ritterbusch and Associates -2.5 -1.4 -1.5 0.4 Tradition Energy -3.5 0.2 -3 n/f AVERAGE -1.0 0.5 -0.2 -0.6
n/f = no forecast
unch = unchanged
Note: Figures in millions of barrels, except refinery utilization, which is in percentage points.
Write to Dan Molinski at [email protected]
