By Anthony Harrup
U.S. crude-oil inventories likely fell for a second consecutive week, while small builds are seen in gasoline and distillate fuels stocks, according to a survey by The Wall Street Journal.
Oil and products inventory data from the U.S. Energy Information Administration for the week ended Dec. 29 is scheduled for release at 11 a.m. EST Thursday.
Commercial crude stockpiles are seen down by 2.7 million barrels from 436.6 million barrels the previous week, according to the average estimate of nine analysts and traders. Eight expect a drop and one foresees a build in stocks. Expectations range from a draw of 6.8 million barrels to a build of 2.4 million barrels.
Gasoline inventories are expected to have increased by 400,000 barrels from 226.1 million barrels the previous week, according to the Journal survey, with estimates ranging from a build of 3.4 million barrels to a draw of 2 million.
Stocks of distillates, mostly diesel fuel, are expected to have risen by 400,000 barrels from 115.8 million barrels with forecasts ranging from an increase of 3.2 million barrels to a reduction of 2 million barrels.
Refinery capacity use likely slipped by a fifth of a percentage point to 93.1%. Forecasts range from a half percentage-point increase to a 1.5 percentage-point drop. Two analysts didn't make a forecast.
Crude Gasoline Distillates Refinery Use
Again Capital -2.9 -1.7 -1.1 0.3
Confluence Investment Management -1.3 3.4 2.4 -1.5
DTN -2.4 1.8 2.2 -0.4
Excel Futures -6.8 -1.7 -1.9 -0.4
Spartan Capital Securities 2.4 0.5 -1.4 n/f
Mizuho -3.0 1.0 2.0 -0.5
Price Futures Group -3.0 -2.0 -2.0 0.5
Ritterbusch and Associates -3.5 2.0 3.2 0.5
Tradition Energy -4.0 0.3 0.3 n/f
AVERAGE -2.7 0.4 0.4 -0.2
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
n/f = no forecast
unch = unchanged
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
01-03-24 1322ET
