Crude Oil Stocks Seen Down 2.4 Million Barrels in Week Ended Dec. 22
December 27 2023 - 12:55PM
Dow Jones News
By Anthony Harrup
U.S. crude-oil inventories likely fell last week while gasoline
and distillate stocks are expected to show modest builds, according
to a survey by The Wall Street Journal.
Commercial crude stocks are seen down by 2.4 million barrels to
441.3 million barrels in the week ended Dec. 22, according to the
average estimate of eight analysts and traders. Estimates range
from a draw of 1.2 million barrels to one of 3.4 million
barrels.
The inventory report from the U.S. Energy Information
Administration is scheduled for release at 11 a.m. EST Thursday,
pushed back by onre day because of the Christmas holiday.
Gasoline inventories are expected to have increased by 100,000
barrels to 226.8 million barrels, with estimates ranging from a
draw of 1.4 million barrels to a build of 2.2 million barrels.
Stocks of distillates, mostly diesel fuel, are seen up by
700,000 barrels to 115.7 million barrels, with forecasts ranging
from an increase of 2.6 million barrels to a decrease of 1.9
million.
Refinery capacity use is seen unchanged from a week earlier at
92.4%, with three respondents predicting an increase, three a
decline and two making no forecast. Estimates range from an
increase 0.8 percentage point to a decrease of a half percentage
point.
Crude Gasoline Distillates Refinery Use
Again Capital -3.4 -1.4 -1.9 0.8
Confluence Investment Management -2.7 0.5 2.0 -0.5
DTN -1.2 1.5 1.3 0.3
Excel Futures -2.4 2.2 1.0 -0.4
Spartan Capital Securities -1.6 -1.2 2.6 n/f
Price Futures Group -3.0 -1.0 -1.0 -0.5
Ritterbusch and Associates -2.6 0.4 1.0 0.4
Tradition Energy -2.1 -0.1 0.3 n/f
AVERAGE -2.4 0.1 0.7 unch
Note: Numbers in millions of barrels, with the exception of
refinery use, which is in percentage points.
n/f = no forecast
unch = unchanged
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
December 27, 2023 12:40 ET (17:40 GMT)
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