By Dan Molinski

U.S. crude-oil stockpiles are expected to decrease from the previous week in data due Thursday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 10 analysts and traders showed U.S. oil inventories are projected to have fallen by 800,000 barrels for the week ended Jan. 14. Seven of the analysts forecast a decline, while three predicted an increase, with forecasts ranging from a decrease of 3.3 million barrels to an increase of 3 million barrels.

The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 11 a.m. ET Thursday, a day later than normal due to Monday's Martin Luther King Jr. holiday.

Gasoline stockpiles are expected to rise by 2.1 million barrels from the previous week, according to analysts. Estimates range from a decrease of 2.4 million barrels to an increase of 4 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to decrease by 700,000 barrels from the previous week. Forecasts range from a decrease of 3.9 million barrels to an increase of 2 million barrels.

Refinery use likely fell by 0.2 percentage point from the previous week, to 88.2% of capacity. Forecasts range from a decrease of 0.8 percentage point to an increase of 0.5 percentage point. One analyst didn't make a forecast.

                                   Crude  Gasoline  Distillates   Use 
Again Capital                       -1.4      -2.4         -1.9      -0.8 
Citi Futures                        -1.5       3.5         -1.5      -0.5 
Commodity Research Group             1.8       2.2           -1      -0.4 
Confluence Investment Management       3         4         -0.5      -0.7 
DTN                                 -1.2       2.2          1.1      -0.6 
Excel Futures                       -3.3       3.8            2       0.4 
Spartan Capital Securities           1.5       1.3         -3.9       n/f 
Mizuho                                -2         3            1       0.4 
Price Futures Group                   -3         1           -1       0.5 
Ritterbusch and Associates          -1.4       2.4         -1.3      -0.5 
AVERAGE                             -0.8       2.1         -0.7      -0.2 

n/f = no forecast

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

Write to Dan Molinski at


(END) Dow Jones Newswires

January 19, 2022 13:11 ET (18:11 GMT)

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