Blue Dolphin Energy Company (BDCO)

[crudeoil24]

U.S. Crude-Oil Stockpiles Likely Declined in DOE Data, Analysts Say
Today 12:27 PM ET (Dow Jones)Print

By Dan Molinski


U.S. commercial crude-oil stockpiles are expected to have decreased slightly 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 nine analysts and traders showed U.S. oil inventories are projected to have decreased by 300,000 barrels for the week ended Sept. 23, with five analysts forecasting a decline and four predicting an increase. Forecasts range from a decrease of 3 million barrels to an increase of 2.5 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 increase by 900,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 1 million barrels to an increase of 2.6 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 100,000 barrels from the previous week. Forecasts range from a decrease of 2.2 million barrels to an increase of 2.1 million barrels.

Refinery use likely declined by 0.7 percentage point from the previous week to 92.9%. Forecasts range from a 1.5 percentage-point decrease to a 0.3 percentage-point increase. Two analysts didn't make a forecast.