By Alison Sider 
 

U.S. crude-oil stocks are expected to show an increase in data due Wednesday from the Department of Energy, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 10 analysts and traders surveyed showed that U.S. oil inventories are projected to have increased by 1 million barrels, on average, in the week ended March 24.

Seven analysts expect stockpiles to grow and three expect them to shrink. Forecasts range from a decrease of 3 million barrels to an increase of 3.9 million barrels.

The closely watched survey from the Energy Information Administration is due at 10:30 a.m. EDT Wednesday.

Gasoline stockpiles are expected to show a decrease of 1.9 million barrels on average, according to analysts. All 10 analysts expect them to fall. Estimates range from a decrease of 3 million barrels to a decrease of 198,000 barrels.

Stocks of distillates, which include heating oil and diesel, are expected to shrink by 1 million barrels. One analyst expects an increase and nine expect a decrease. Forecasts range from a decline of 2 million barrels to an increase of 754,000 barrels.

Refinery use is seen gaining 0.3 percentage point to 87.7% of capacity, based on EIA data. Six analysts expect an increase, one expects a decrease, one expects no change and two didn't report expectations. Forecasts range from a decrease of 1.5 percentage points to an increase of 1 point.

The American Petroleum Institute, an industry group, said late Tuesday that its own data for the week showed a 1.9 million-barrel rise in crude supplies, a 1.1 million-barrel decrease in gasoline stocks and a 2 million-barrel fall in distillate inventories, according to a market participant.

                               Crude   Gasoline    Distillates     Refinery Use 
Citi Futures                     2.5     -2.5            -1.5            0.5 
Commodity Research Group         0.6     -1.6            -1.2            0.5 
Confluence Investment Management 2       -2.5            -1                0 
Energy Management Institute      2       -2              -1.5            0.4 
Excel Futures                    3.616   -1.337          -0.436          0.3 
First Standard Financial        -0.721   -0.198           0.754          NA 
Oil Outlooks and Opinions       -2.5     -1.5            -1              1 
Price Futures Group             -3       -2              -2              1 
Tradition Energy                 3.9     -3              -1             -1.5 
Tyche Capital Advisors           2.1     -2.5            -1              NA 
AVERAGE                          1.0     -1.9            -1.0            0.3 
 

(Figures in millions of barrels except for refining capacity, which is reported in percentage points. For analysts providing forecasts in a range, the average of the upper and lower ends of the range is used.)

 

Write to Alison Sider at alison.sider@wsj.com

 

(END) Dow Jones Newswires

March 28, 2017 17:12 ET (21:12 GMT)

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