By Dan Molinski
According to a survey conducted by The Wall Street Journal, the Department of Energy is expected to report a decline in U.S. crude-oil stockpiles for the week ended Aug. 18. The average estimate from eight analysts and traders indicates a decrease of 2.4 million barrels. While seven of the forecasters are predicting a decrease, one is expecting a week-on-week increase. The range of expectations varies from a decrease of 4 million barrels to an increase of 1.4 million barrels.
Gasoline Inventories and Distillates Forecast
In addition to crude-oil stockpiles, analysts also anticipate a decline of 500,000 barrels in gasoline inventories from the previous week. Estimates range from a decrease of 3 million barrels to an increase of 1.1 million barrels.
Stocks of distillates, primarily diesel fuel, are projected to increase by 200,000 barrels from the previous week. Forecasts for distillates range from a decrease of 3 million barrels to an increase of 1.9 million barrels.
Refinery Use and Projections
Refinery use is expected to rise by 0.4 percentage point from the previous week to reach 95.1%. Forecasts for refinery use range from a decrease of 0.4 percentage point to an increase of 1 percentage point. Notably, two analysts did not provide a forecast.
|Crude|Gasoline|Distillates|Refinery Use| |-|-|-|-| |-3.1|1.1|0.9|0.4| |-3|-1.5|0.5|0.5| |-2.2|-0.8|0.5|0.4| |-2.4|0.5|0.9|-0.4| |1.4|-1|1.9|n/f| |-3|-3|-3|1| |-2.8|-0.3|0.2|0.4| |-4|0.7|-0.1|n/f| |-2.4|-0.5|0.2|0.4|
Note: n/f = no forecast, unch = unchanged.
