U.S. Crude Oil and Product Stockpile Forecast
(Reuters) – U.S. crude oil and product stockpiles were expected to have fallen last week, based on an extended Reuters poll conducted on Tuesday.
Ten analysts surveyed by Reuters estimated an average decrease of about 1.4 million barrels in crude inventories for the week ending September 20.
The poll results were shared ahead of reports from the American Petroleum Institute (API) at 4:30 p.m. EDT (2030 GMT) on Tuesday and from the Energy Information Administration (EIA) at 10:30 a.m. EDT (1430 GMT) on Wednesday.
According to the EIA, crude inventories had already decreased by 1.6 million barrels to 417.5 million barrels in the week ending September 13, surpassing analysts' expectations of a 500,000-barrel decline.
Weekly Estimates
| Organization | Crude | Distillate | Gasoline | Refinery Runs |
|---|---|---|---|---|
| Again Capital | -1.8 | -1.0 | 1.4 | – |
| Commodity Research Group | -1.0 | -0.5 | 1.0 | -1.0 |
| Confluence | -1.5 | 2.0 | 1.0 | -0.8 |
| Excel Futures | -0.8 | -1.2 | -1.4 | -1.5 |
| LSEG | -1.6 | -1.0 | 0.3 | -0.7 |
| Macquarie Group (OTC:MQBKY) | -8.4 | -2.5 | -1.8 | -0.2 |
| Price Futures Group | -2.0 | -2.0 | -2.0 | 0.0 |
| Ritterbusch Associates | 1.5 | -2.0 | -0.5 | 0.3 |
| Rystad Energy | -1.4 | -3.8 | 0.2 | -1.0 |
| Stratas Advisors | -0.7 | -1.4 | 1.1 | -1.5 |
Additional Insights
- Analysts estimated that gasoline stockpiles decreased by 20,000 barrels last week.
- Distillate inventories, which comprise diesel and heating oil, were anticipated to drop by around 1.6 million barrels.
- The rate of refinery utilization was estimated to have declined by 0.7 percentage points from 92.1% the previous week.
All figures for stocks are reported in millions of barrels. Refinery rate changes are expressed in percentage points.
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