US Crude and Product Inventories Likely Declined Last Week: Reuters Poll

Oil and product stockpiles are anticipated to have declined in the previous week, according to a recent Reuters poll.

Ten analysts surveyed estimated that crude inventories decreased by approximately 1.4 million barrels for the week ending September 20. The poll was conducted ahead of the American Petroleum Institute’s report, expected at 4:30 p.m. EDT, and the Energy Information Administration’s report, set for 10:30 a.m. EDT the following day.

The EIA previously reported a 1.6 million barrel drop in crude inventories, bringing the total to 417.5 million barrels for the week ending September 13. This figure exceeded analysts’ expectations of a 500,000-barrel decrease in a prior Reuters poll.

Analysts predict that gasoline stockpiles decreased by 20,000 barrels last week, while distillate inventories, which include diesel, are expected to have fallen by around 1.6 million barrels.

Additionally, the rate of refinery utilization is estimated to have dropped by 0.7 percentage points from the previous week’s capacity of 92.1%.

All data on stock levels are reported in millions of barrels, and changes in refinery rates are expressed in percentage points.

Here are the estimates for different organizations concerning crude, distillate, gasoline stocks, and refinery runs:

– Again Capital: Crude -1.8, Distillate -1.0, Gasoline +1.4
– Commodity Research Group: Crude -1.0, Distillate -0.5, Gasoline +1.0, Refinery Runs -1.0
– Confluence: Crude -1.5, Distillate +2.0, Gasoline +1.0, Refinery Runs -0.8
– Excel Futures: Crude -0.8, Distillate -1.2, Gasoline -1.4, Refinery Runs -1.5
– LSEG: Crude -1.6, Distillate -1.0, Gasoline +0.3, Refinery Runs -0.7
– Macquarie Group: Crude -8.4, Distillate -2.5, Gasoline -1.8, Refinery Runs -0.2
– Price Futures Group: Crude -2.0, Distillate -2.0, Gasoline -2.0, Refinery Runs 0.0
– Ritterbusch Associates: Crude +1.5, Distillate -2.0, Gasoline -0.5, Refinery Runs +0.3
– Rystad Energy: Crude -1.4, Distillate -3.8, Gasoline +0.2, Refinery Runs -1.0
– Stratas Advisors: Crude -0.7, Distillate -1.4, Gasoline +1.1, Refinery Runs -1.5