According to a survey by The Wall Street Journal, U.S. crude-oil and gasoline inventories are expected to have risen moderately last week. However, distillate fuel stocks probably fell, while refineries likely stepped up their run rates after four weeks of declines.
Crude Oil Stockpiles
Commercial crude stockpiles are seen rising by 1.3 million barrels to 423.2 million barrels for the week ended Feb. 2, according to the average estimate of 10 analysts and traders. Among them, eight expect an increase and two predict a decline. Expectations range from a build of 3.2 million barrels to a draw of 2.7 million barrels.
Gasoline Inventories
Gasoline inventories are expected to edge up by 300,000 barrels to 254.4 million barrels, according to the survey. Estimates range from an increase of 2.7 million barrels to a decrease of 2 million barrels.
Distillate Fuel Stocks
Stocks of distillates, mostly diesel fuel, are seen down by 2 million barrels to 128.8 million barrels, with forecasts ranging from a withdrawal of 900,000 barrels to one of 3.6 million barrels.
Refinery Capacity Use
Refinery capacity use likely rose by two-fifths of a percentage point to 83.3%. Forecasts range from an increase of 2.5 percentage points to a decline of 1.2 percentage points. Two analysts didn’t make a forecast.
The inventory data from the U.S. Energy Information Administration is scheduled for release at 10:30 a.m. EST Wednesday.
Inventory Forecast
Here is a summary of the forecasted oil inventory changes:
Crude: +1.3 million barrels Gasoline: +0.3 million barrels Distillates: -2.0 million barrels Refinery Use: +0.4%
Note: Numbers are in millions of barrels, with the exception of refinery use, which is in percentage points.
n/f = no forecast unch = unchanged
