By According to a survey conducted by The Wall Street Journal, U.S. crude-oil stockpiles are projected to have decreased from the previous week. The data from the U.S. Department of Energy’s Energy Information Administration, scheduled for release on Wednesday at 10:30 a.m. ET, is eagerly anticipated by analysts and traders.
Projections for Crude-Oil Stockpiles
An average of estimates from 10 analysts and traders suggests a decrease of 1.3 million barrels for the week ended July 28. While eight forecasters predict a decrease, two expect an increase. Expectations range from a decline of 4 million barrels to a rise of 1.9 million barrels.
Gasoline Inventories and Distillates
Analysts also anticipate a fall in gasoline inventories by 1.3 million barrels from the previous week. Estimates vary between a decrease of 3 million barrels to an increase of 1.1 million barrels. Stocks of distillates, mainly diesel fuel, are expected to decline slightly by 100,000 barrels. Forecasts range from a decrease of 3 million barrels to an increase of 1.4 million barrels.
Refinery Use
Refinery use is predicted to have slipped by 0.1 percentage point from the previous week to 93.3%. Forecasts range from a decrease of 0.8 percentage point to an increase of 0.5 percentage point. Two analysts did not provide a forecast.
Here are the predictions for the different categories:
| Category | Crude | Gasoline | Distillates | Refinery Use | |———————|———|———-|————-|————–| | Again Capital | -1.1 | -0.8 | -1.2 | -0.8 | | Commodity Research Group | -2.5 | -1.6 | 0.7 | -0.6 | | Confluence Investment Management | 1 | -1.5 | 1 | 0.5 | | DTN | -1.2 | -1 | 0.8 | 0.5 | | Excel Futures | 1.9 | 1.1 | 1.4 | -0.6 | | Spartan Capital Securities | -1.6 | -1.1 | 0.3 | n/f | | Mizuho | -1 | -2 | -0.5 | -0.5 | | Price Futures Group | -3 | -3 | -3 | 0.5 | | Ritterbusch and Associates | -1.9 | -1.5 | -0.8 | 0.3 | | Tradition Energy | -4 | -1.6 | 0.2 | n/f | | AVERAGE | -1.3| -1.3| -0.1 | -0.1 |
*n/f = no forecast, unchanged = unch
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