By Dan Moliski/WSJ

HOUSTON
EnergiwesNet.com 02 09 2022

U.S. crude-oil stockpiles probably increased slightly last week in data due Wednesday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal.

Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have risen by 500,000 barrels for the week ended Feb. 4. Seven of the analysts forecast an increase, while four predicted a decline. Forecasts range from a decrease of 2.2 million barrels to an increase of 3.5 million barrels.

The closely watched survey from the DOE’s Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.

Gasoline stockpiles are expected to rise by 1.4 million barrels from the previous week, according to analysts. Estimates range from a decrease of 2.5 million barrels to an increase of 3.1 million barrels.

Stocks of distillates, which include heating oil and diesel, are expected to decrease by 2.1 million barrels from the previous week. Forecasts range from decreases of 500,000 barrels to 4.4 million barrels.

Refinery use likely fell by 0.2 percentage point from the previous week, to 86.5% of capacity. Forecasts range from a decrease of 1 percentage point to an increase of 0.6 percentage point. Two analysts didn’t make a forecast.

 
                                                                 Refinery 
                                   Crude  Gasoline  Distillates   Use 
Again Capital                        2.6       3.1         -1.1       0.6 
Citi Futures                         1.5       1.5         -1.5      -0.5 
Commodity Research Group             1.2       1.4         -1.5      -0.4 
Confluence Investment Management     3.5       1.5         -0.5        -1 
DTN                                 -2.2       1.8         -2.4      -0.9 
Excel Futures                       -1.8       1.7           -2       0.5 
Spartan Capital Securities          -1.8       2.8         -4.4       n/f 
 
Mizuho                                 2         1           -2      -0.4 
Price Futures Group                   -2         1         -2.5      unch 
Ritterbusch and Associates             2       2.0         -1.8       0.5 
 
Tradition Energy                     0.5      -2.5           -3       n/f 
 
AVERAGE                              0.5       1.4         -2.1      -0.2 
 

n/f = no forecast

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Dan Molinski at dan.molinski@wsj.com

wsj.com 02 08 2022