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 declined by 500,000 barrels for the week ended Nov. 11, with six analysts forecasting a decrease and three predicting an increase. Forecasts range from a decline of 3.3 million barrels to an increase of 2.5 million barrels.

Analysts said the likely small decrease is partly due to another transfer of crude last week from the nation's Strategic Petroleum Reserve to the commercial side. The year-long SPR sales strategy by the U.S. government, which aims to boost supplies so as to reduce gasoline prices at the pump, could be ending soon.

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 200,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 2 million barrels to an increase of 2.1 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to fall by 800,000 barrels from the previous week. Forecasts range from a decrease of 2.6 million barrels to an increase of 1.1 million barrels.

Refinery use likely increased by 0.4 percentage point from the previous week to 92.5%. Forecasts range from a 0.5 percentage-point decline to a 1-percentage-point increase. Two analysts didn't make a forecast. 


 
                                                                 Refinery 
                                   Crude  Gasoline  Distillates   Use 
Again Capital                       -3.3       2.1          1.1       0.3 
Citi Futures                        -1.5        -1           -1       0.5 
Commodity Research Group            -1.9       0.2         -0.3      -0.5 
Confluence Investment Management     2.5         1           -1         1 
DTN                                  1.6      -0.4          0.3       0.3 
 
Spartan Capital Securities          -0.1       1.7         -2.6       n/f 
 
 
Price Futures Group                   -2        -2           -2      unch 
Ritterbusch and Associates          -0.9       1.2         -1.2       0.9 
 
Tradition Energy                     1.5        -1         -0.5       n/f 
 
AVERAGE                             -0.5       0.2         -0.8       0.4

n/f = no forecast

unch = unchanged

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.


Write to Dan Molinski at dan.molinski@wsj.com


(END) Dow Jones Newswires

11-15-22 1232ET