US crude inventories likely fell last week, products seen up
Updates with details from API report in paragraphs 6-8
Dec 17 (Reuters) -U.S. crude oil stockpiles were expected to have fallen last week while gasoline and distillate inventories likely rose, an extended Reuters poll showed on Tuesday.
Ten analysts polled by Reuters estimated on average that crude inventories fell by about 1.6 million barrels in the week to Dec. 13.
Crude inventories fell by 1.4 million barrels to 422 million barrels in the week ended Dec. 6, the EIA said, compared with analysts' expectations in a Reuters poll for a 901,000-barrel draw.
REUTERS FORECAST CHANGE FOR WEEK ENDED 12/13/24 | ACTUAL FOR WEEK (EIA) ENDED 12/06/24 | PREVIOUS WEEK CHANGE | YR-AGO CHANGE WEEK ENDED 12/15/23 | |
CRUDE | -1.6 MLN | 422 | -1.4 MLN | 2.9 MLN |
DISTILLATE | 0.7 MLN | 121.3 | 3.2 MLN | 1.5 MLN |
GASOLINE | 2.1 MLN | 219.7 | 5.1 MLN | 2.7 MLN |
REFINERY RUNS | -0.2 PCT PT | 92.4 | -0.9 PCT PT | 2.2 PCT PT |
NATGAS STORAGE FORECAST | -129 BCF TO -115 BCF (SEVEN FORECASTS) | |||
Analysts estimated stockpiles of gasoline USOILG=ECI rose by about 2.1 million barrels last week, while distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have increased by about 700,000 barrels.
The rate of refinery utilization USOIRU=ECI was estimated to have decreased by 0.2 percentage point from 92.4% of total capacity in the previous week, the poll found.
U.S. crude oil stocks fell on the week while fuel inventories rose, market sources said, citing American Petroleum Institute figures on Tuesday.
Crude stocks fell by 4.69 million barrels in the week ended Dec. 13, the sources said on condition of anonymity. Gasoline inventories rose by 2.45 million barrels, and distillate stocks rose by 744,000 barrels, they said.
The poll was conducted ahead of the report from the American Petroleum Institute industry group and an upcoming one from the Energy Information Administration, the statistical arm of the U.S. Department of Energy, at 10:30 a.m. EST (1530 GMT), on Wednesday.
All figures for stocks are in millions of barrels. Refinery-rate changes are measured in percentage points.
Organization | Crude | Distillate | Gasoline | Refinery runs |
Again Capital | -1.7 | 1.1 | 1.3 | -0.9 |
Commodity Research Group | -1.7 | 0.5 | 2.0 | -0.8 |
Confluence Group | -1.5 | 2.5 | 2.5 | -0.5 |
Excel Futures | -1.7 | 2.7 | 2.0 | 0.6 |
LSEG | -2.2 | -0.5 | 1.4 | -0.2 |
Macquarie Group | -0.7 | 0.1 | 4.9 | - |
Price Futures Group | -2.0 | -2.0 | -2.0 | 0 |
Ritterbusch Associates | -3.0 | -1.4 | 1.2 | 0.3 |
Rystad Energy | -1.6 | 1.2 | 3.3 | 0.6 |
Stratas Advisor | 1.1 | 1.8 | 2.8 | -1.0 |
Reporting by Anmol Choubey in Bengaluru; Additional reporting by Brijesh Patel; Editing by Chizu Nomiyama and Chris Reese
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