Analysts See Weekly Decline in U.S. Crude Oil Stockpiles

Analysts See Weekly Decline in U.S. Crude Oil Stockpiles

By Anthony Harrup

U.S. crude oil inventories likely posted a third consecutive withdrawal last week as refineries continue running at high capacity, according to a survey by The Wall Street Journal.

Commercial crude stocks are seen falling by 1.4 million barrels to 422.7 million barrels in the week ended Sept. 11, according to the average estimate of seven analysts and traders. Expectations range from a decline of 568,000 barrels to a drop of 2 million barrels.

Gasoline inventories are expected to be down by 800,000 barrels at 206.1 million barrels, with estimates ranging from a 1 million barrel increase to a 1.5 million barrel decline.

Stocks of distillate fuel, mostly diesel, are seen unchanged at 106.3 million barrels. Forecasts range from a 1 million barrel increase to a decline of 1.7 million barrels.

Refinery capacity is forecast to have eased by 0.6 of a percentage point to 97.2%, with estimates ranging from unchanged to a decline of 2 percentage points. One analyst didn't forecast refinery runs.

The inventory data from the U.S. Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.

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