U.S. Crude Oil Inventories Expected to Remain Steady

According to a survey conducted by The Wall Street Journal, U.S. crude-oil inventories are anticipated to stay unchanged compared to the previous week. A consensus of estimates from ten analysts and traders suggests that commercial crude-oil stockpiles will hover around 416.3 million barrels for the week ending September 29. While four of the forecasters predict a decrease, six expect an increase. Projections vary from a 3 million barrel decrease to a 2.4 million barrel increase.

The Energy Information Administration's highly anticipated inventory data is scheduled for release at 10:30 a.m. ET on Wednesday.

Gasoline Inventories Expected to Rise

Analysts anticipate an increase of 300,000 barrels in gasoline inventories compared to the previous week. Estimates range from a 1.6 million barrel decrease to a 2.6 million barrel increase.

Drop in Distillate Stocks Likely

Stocks of distillates, primarily diesel fuel, are anticipated to decrease by 400,000 barrels from the previous week. Forecasts range from a 3.1 million barrel decrease to a 1.9 million barrel increase.

Refinery Use Likely Declined

Forecasts suggest that refinery use declined by 0.3 percentage point from the previous week, reaching 89.2%. Projections range from a decrease of 0.8 percentage point to an increase of 0.8 percentage point. Two analysts did not provide a forecast.

Summary of Analyst Forecasts

Here is a summary of the analyst forecasts for key figures:

| Analyst | Crude | Gasoline | Distillates | Refinery Use | |----------------------------|---------|----------|-------------|--------------| | Again Capital | -1.4 | 2.6 | 1.1 | -0.8 | | Commodity Research Group | 2.4 | 0.4 | 1.6 | -0.6 | | Confluence Investment Mgmt | 1.5 | -1 | -1.5 | -0.5 | | DTN | 0.8 | 1.8 | -1.2 | -0.3 | | Excel Futures | -2.5 | 1.2 | 0.9 | -0.4 | | Spartan Capital Securities | 0.8 | -1.6 | 1.9 | n/f | | Mizuho | 2 | -1 | -1 | -0.5 | | Price Futures Group | -3 | -1 | -2 | Unchanged | | Ritterbusch and Associates | 1.6 | -0.5 | -1 | 0.8 | | Tradition Energy | -2 | 2 | -3.1 | n/f | | AVERAGE | Unchanged | 0.3 | -0.4 | -0.3 |

Note: Numbers are in millions of barrels, except for refinery use, which is in percentage points.

In conclusion, U.S. crude oil inventories are projected to remain stable, while gasoline inventories are expected to increase slightly. Distillate stocks may experience a decline, and refinery use likely decreased compared to the previous week.