U.S.Crude Oil Stocks Seen Down in Week Ended Dec. 29
January 03 2024 - 1:37PM
Dow Jones News
By Anthony Harrup
U.S. crude-oil inventories likely fell for a second consecutive
week, while small builds are seen in gasoline and distillate fuels
stocks, according to a survey by The Wall Street Journal.
Oil and products inventory data from the U.S. Energy Information
Administration for the week ended Dec. 29 is scheduled for release
at 11 a.m. EST Thursday.
Commercial crude stockpiles are seen down by 2.7 million barrels
from 436.6 million barrels the previous week, according to the
average estimate of nine analysts and traders. Eight expect a drop
and one foresees a build in stocks. Expectations range from a draw
of 6.8 million barrels to a build of 2.4 million barrels.
Gasoline inventories are expected to have increased by 400,000
barrels from 226.1 million barrels the previous week, according to
the Journal survey, with estimates ranging from a build of 3.4
million barrels to a draw of 2 million.
Stocks of distillates, mostly diesel fuel, are expected to have
risen by 400,000 barrels from 115.8 million barrels with forecasts
ranging from an increase of 3.2 million barrels to a reduction of 2
million barrels.
Refinery capacity use likely slipped by a fifth of a percentage
point to 93.1%. Forecasts range from a half percentage-point
increase to a 1.5 percentage-point drop. Two analysts didn't make a
forecast.
Crude Gasoline Distillates Refinery Use
Again Capital -2.9 -1.7 -1.1 0.3
Confluence Investment Management -1.3 3.4 2.4 -1.5
DTN -2.4 1.8 2.2 -0.4
Excel Futures -6.8 -1.7 -1.9 -0.4
Spartan Capital Securities 2.4 0.5 -1.4 n/f
Mizuho -3.0 1.0 2.0 -0.5
Price Futures Group -3.0 -2.0 -2.0 0.5
Ritterbusch and Associates -3.5 2.0 3.2 0.5
Tradition Energy -4.0 0.3 0.3 n/f
AVERAGE -2.7 0.4 0.4 -0.2
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
January 03, 2024 13:22 ET (18:22 GMT)
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