U.S. Crude-Oil Inventories Expected to Remain Steady

The latest data from the Energy Department, set to be released on Wednesday, is expected to show that U.S. crude-oil inventories have remained largely unchanged from the previous week, according to a survey conducted by The Wall Street Journal.

Commercial Crude Stockpiles

In the week ending October 20, commercial crude stockpiles saw a marginal increase of only 10,000 barrels, based on estimates from 10 analysts and traders. Four of the forecasters predict a decrease, while six anticipate an increase. Projections range from a decrease of 3 million barrels to an increase of 2.2 million barrels.

Gasoline Inventories

The survey also indicates that gasoline inventories are expected to decrease by 300,000 barrels. Estimates range from a decrease of 2.5 million barrels to an increase of 1.5 million barrels.

Distillate Stocks

Stocks of distillates, primarily diesel fuel, are projected to decline by 1.1 million barrels. Forecasts range from a decrease of 2.9 million barrels to an increase of 1.1 million barrels.

Refinery Use

Refinery use is likely to have increased by 0.5 percentage point to 86.6%. Projections range from no change to an increase of 1.5 percentage points. Two analysts did not provide a forecast.

Forecasts by Analysts

Here are the forecasts by various analysts and their estimates for crude, gasoline, distillates, and refinery use:

| Analyst | Crude | Gasoline | Distillates | Refinery Use | |--------------------------|-------|----------|-------------|--------------| | Again Capital | -2.8 | 1.4 | 1.1 | 0.6 | | Commodity Research Group | 1.9 | 1.3 | 0.4 | 0.5 | | Confluence Investment Management | 2 | -2.5 | -1.5 | 1.5 | | DTN | 1.1 | -0.75 | -1.4 | 0.03 | | Excel Futures | -3 | -1.5 | -2.2 | 0.4 | | Spartan Capital Securities | -1.4 | 1.1 | -2.9 | n/f | | Mizuho | 2 | -1 | -2 | 0.4 | | Price Futures Group | -3 | -1 | -1 | 0.0 | | Ritterbusch and Associates | 2.2 | -1.4 | -1.7 | 0.7 | | Tradition Energy | 1.1 | 1.5 |-0.25 | n/f | | Average | 0.0 | -0.3 | -1.1 | 0.5 |