U.S. crude oil inventories are expected to have fallen last week, while gasoline and distillate stocks likely rose, according to a Reuters poll.
Nine analysts polled by Reuters estimated that on average crude inventories fell by about 1.6 million barrels in the week ended Jan. 17.
The poll was conducted ahead of the release of a report from the industry group American Petroleum Institute, scheduled for 4:30 p.m. ET (2130 GMT) on Wednesday, and another report from the Energy Information Administration, the statistical arm of the U.S. Department of Energy. energy, scheduled for 12:00 p.m. ET (1700 GMT) Thursday. Both reports were delayed a day due to the Martin Luther King Jr. federal holiday on Monday.
Crude inventories fell by 2 million barrels to 412.7 million barrels in the week ended January 10, the EIA said, while analysts had expected a drop of 992,000 barrels, according to a Reuters poll.
REUTERS FORECAST ACTUAL FOR PREVIOUS WEEK YR-AGO CHANGE
CHANGE FOR THE WEEK WEEK (EIA) CHANGE WEEK ENDED
FINISHED FINISHED FINISHED 01/19/24
01/17/25 01/10/25
GROSS -1.6 412.7 -2.0 MLN -9.2 MLN
MLN
DISTILLATE 0.3 132.0 3.1 MLN -1.4 MLN
MLN
ESSENCE 2.3 243.6 5.9 MILLION 4.9 MILLION
MLN
REFINERY -0.8 91.7 -1.6 PCT PT -7.1 PCT PT
RUNS PCT PT
NATGAS -300 BCF TO -225 BCF (NINE FORECASTS)
-STORAGE
FORECAST
Analysts estimate that gasoline stocks rose by about 2.3 million barrels last week, while stocks of distillates, which include diesel and heating oil, are expected to have increased by about 300,000 barrels.
The refinery utilization rate reportedly fell 0.8 percentage points from the previous week, to 91.7% of total capacity.
All inventory figures are expressed in millions of barrels. Changes in refining rates are measured in percentage points.
Organization Crude Distillate Gasoline Refinery yields
Encore Capital -1,4 1,6 2,2 -0,7
Commodity Research Group 0,6 -0,6 2,9 -0,8
Confluence Group 1.0 2.0 2.5 -2.0
Excel Futures -2,4 3,9 4,7 -0,8
LSEG -2.1 1.0 0.5 0.2
Groupe Macquarie -7,9 -0,6 3,2 -0,6
Price Futures Group -3,0 -3,0 -3,0 -1,0
Ritterbusch Associates 1,4 -2,0 2,5 -1,2
Rystad Energy -4.2 0.6 2.2 -0.8
