U.S. Crude-Oil Stocks Seen Increasing in DOE Data

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02/13/2018 | 11:00 pm

By Alison Sider

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 11 analysts and traders showed U.S. oil inventories are projected to have increased by 2.6 million barrels, on average, in the week ended Feb. 9. Ten analysts expect stockpiles to rise and one expected no change. Forecasts range from no change to an increase of 3.6 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 grow by 1.4 million barrels on average, according to analysts. Ten analysts expect them to rise and one expects them to fall. Estimates range from a decrease of 3 million barrels to an increase of 2.8 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 600,000 barrels. Two analyst expects an increase, eight expect a decrease, and one expects no change. Forecasts range from a fall of 1.9 million barrels to an increase of 3 million barrels.

Refinery use is seen falling 1.4 percentage points to 91.1% of capacity. Eight analysts expect a decrease and three did not report expectations. Forecasts range from a decrease of 0.7 percentage point to a decrease of 2.7 percentage points.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 3.9-million-barrel increase in crude supplies, a 4.6-million-barrel rise in gasoline stocks and a 1.1-million-barrel increase in distillate inventories, according to a market participant.

Crude Gasoline Distillates Refinery Use
Again Capital 3.3 2.4 0.9 -0.9
Citi Futures 2 1 -1.5 -2
Commodity Research Group 4 1.6 -1.1 -2.7
Confluence Investment Management 3 1 -2 -1
Energy Management Institute 2.3 1 -1.5 -1.3
Excel Futures 2.6 2.8 3 -0.7
First Standard Financial 1.6 2.7 -1.6 n/a
ION Energy 0 1.5 0 n/a
Price Futures Group 1.5 -3 -2 -1
Ritterbusch and Associates 3.6 2.5 -1.9 n/a
Schneider Electric 3.5 1.8 1.1 -1.5
Tradition Energy 3.5 2 -0.5 -1.5
AVERAGE 2.6 1.4 -0.6 -1.4

--Write to Alison Sider at alison.sider@wsj.com

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