According to a survey conducted by The Wall Street Journal, it is expected that U.S. crude-oil inventories will see a slight increase in the previous week.
Temporary Suspension of Weekly Petroleum Status Report Publication
The U.S. Energy Information Administration (EIA) announced that there will be a temporary suspension of the publication of its Weekly Petroleum Status Report on Wednesday due to a system update. However, the EIA will continue to collect data and will release two weeks’ worth of official statistics on November 15.
Forecast for Commercial Crude Stockpiles
Analysts and traders provided an average estimate of a 200,000 barrel increase in commercial crude stockpiles for the week ending November 3. Among the five forecasters, three predicted an increase, while two anticipated a decrease. The expectations varied between a decrease of 1.8 million barrels and an increase of 2 million barrels.
Gasoline Inventories Expectations
According to the survey, gasoline inventories are anticipated to decrease by 500,000 barrels. The estimates for this category ranged from a decrease of 1.3 million barrels to an increase of 1.1 million barrels.
Forecasts for Distillates
Forecasts indicate that stocks of distillates, primarily diesel fuel, are projected to decline by 2 million barrels. The expected range for this category is a decrease of 2.6 million barrels to a decrease of 1.2 million barrels.
Refinery Use Expectations
Forecasts suggest that refinery use is likely to have increased by 0.1 percentage point, reaching 85.5%. The range of forecasts for this category varied from a decrease of 0.5 percentage point to an increase of 0.8 percentage point. One analyst did not provide a forecast.
| Analyst | Crude | Gasoline | Distillates | Refinery Use | | ——————– | ——- | ——– | ———– | ———— | | Again Capital | -1.8 | 1.1 | -1.2 | 0.8 | | DTN | 1.2 | -0.5 | -2.2 | 0.4 | | Excel Futures | 1.4 | -1.3 | -1.9 | -0.4 | | Spartan Capital Securities | -1.6 | -0.9 | -2.6 | n/f | | Mizuho | 2.0 | -1.0 | -2.0 | -0.5 | | AVERAGE | 0.2 | -0.5 | -2.0 | 0.1 |
Note: Numbers reported in millions of barrels, except for refinery use which is indicated in percentage points. “n/f” denotes no forecast.
