US crude inventories likely rose last week, products seen down
Oct 15 (Reuters) -U.S. crude oil inventories were expected to have risen last week, while distillate and gasoline stockpiles likely fell, an extended Reuters poll showed on Tuesday.
Ten analysts polled by Reuters estimated on average that crude inventories rose by about 1.8 million barrels in the week to Oct. 11.
The poll was conducted ahead of a report from the American Petroleum Institute industry group at 4:30 p.m. EDT (2030 GMT) on Tuesday and one from the Energy Information Administration, the statistical arm of the U.S. Department of Energy, at 10:30 a.m. EDT (1430 GMT) on Wednesday.
Crude inventories rose by 5.8 million barrels to 422.7 million barrels in the week ended Oct. 4, the EIA said, compared with analysts' expectations in a Reuters poll for a 2 million-barrel rise.
REUTERS FORECAST CHANGE FOR WEEK ENDED 10/11/24 | ACTUAL FOR WEEK (EIA) ENDED 10/04/24 | PREVIOUS WEEK CHANGE | YR-AGO CHANGE WEEK ENDED 10/13/23 | |
CRUDE | 1.8 MLN | 422.7 MLN | 5.8 MLN | -4.5 MLN |
DISTILLATE | -2.2 MLN | 118.5 MLN | -3.1 MLN | -3.2 MLN |
GASOLINE | -1.5 MLN | 214.9 MLN | -6.3 MLN | -2.3 MLN |
REFINERY RUNS | -0.6 PCT PT | 86.7% | -0.9 PCT PT | 0.4 PCT PT |
NATGAS STORAGE FORECAST | 87 BCF TO 63 BCF (FIVE FORECASTS) | |||
Analysts estimated stockpiles of gasoline USOILG=ECI fell by about 1.5 million barrels last week, while distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have decreased by about 2.2 million barrels.
The rate of refinery utilization USOIRU=ECI was estimated to have decreased by 0.6 percentage point from 86.7% of total capacity in the previous week, the poll found.
All figures for stocks are in millions of barrels. Refinery-rate changes are measured in percentage points.
Organization | Crude | Distillate | Gasoline | Refinery runs |
Confluence | 1.5 | -2.5 | 0.5 | -0.5 |
Commodity Research Group | 3.2 | -1.0 | -0.5 | -0.5 |
Excel Futures | 4.3 | -3.1 | -4.8 | -0.6 |
Macquarie Group | 3.3 | -2.4 | 0.2 | -- |
Price Group | -2.0 | -3.0 | -3.0 | -1.0 |
LSEG | 3.0 | -1.2 | -1.0 | -0.5 |
Ritterbusch Associates | 1.4 | -2.5 | -3.0 | -0.5 |
Rystad Energy | 0.2 | -3.4 | -3.2 | -0.5 |
StoneX Group | -1.1 | -0.6 | -1.8 | -1.8 |
Stratas Advisors | 3.2 | -1.8 | 0.8 | 0.5 |
Reporting by Brijesh Patel in Bengaluru; Editing by David Gregorio
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