U.S. crude-oil stockpiles are expected to have declined from the previous week in data initially due Thursday but now delayed by the Energy Department, according to a survey of analysts and traders by The Wall Street Journal.
The closely watched survey from the DOE’s Energy Information Administration was scheduled for release at 11 a.m. EDT Thursday, but has been pushed back indefinitely due to “systems” issues, the EIA said late Wednesday.
Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have declined by 1.2 million barrels for the week ended June 17. Nine of the analysts surveyed are expecting a decline, while two forecast an increase. Forecasts range from a decrease of 3.5 million barrels to an increase of 2.4 million barrels.
Gasoline stockpiles are expected to decrease by 800,000 barrels from the previous week, according to analysts. Estimates range from a decrease of 2 million barrels to an increase of 1 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to rise by 300,000 barrels from the previous week. Forecasts range from a decrease of 2 million barrels to an increase of 1.9 million barrels.
Refinery use likely rose by 0.5 percentage point from the previous week, to 94.2% of capacity. Forecasts range from increases of 0.3 percentage point to 1 percentage point. Two analysts didn’t make a forecast.
The American Petroleum Institute, an industry group, said late Wednesday its data for the week showed a 5.6 million-barrel increase in crude supplies, a 1.2 million-barrel rise in gasoline stocks and a 1.7 million-barrel decrease in distillate inventories, according to a source.