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U.S. Crude-Oil Stockpiles Likely Increased in DOE Data, Analysts Say
https://www.marketwatch.com/story/u-s-crude-oil-stockpiles-likely-increased-in-doe-data-analysts-say-update-271643752006

U.S. crude-oil stockpiles are expected to increase from the previous week in data due Wednesday from the Energy Department, 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 risen by 1.1 million barrels for the week ended Jan. 28. Eight of the analysts forecast an increase, while three predicted a decline. Forecasts range from a decrease of 2.2 million barrels to an increase of 2.9 million barrels.

The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.

Gasoline stockpiles are expected to rise by 1.7 million barrels from the previous week, according to analysts. Estimates range from a decrease of 200,000 barrels to an increase of 3.1 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to decrease by 1.6 million barrels from the previous week. Forecasts range from a decrease of 3.6 million barrels to an increase of 500,000 barrels.

Refinery use likely fell by 0.1 percentage point from the previous week, to 87.6% of capacity. Forecasts range from a decrease of 0.7 percentage point to an increase of 0.6 percentage point. Two analysts didn't make a forecast.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 1.6-million-barrel decrease in crude supplies, a 5.8-million-barrel rise in gasoline stocks and a 2.5-million-barrel decline in distillate inventories, according to a source.