Monday, December 4

US crude inventories likely fell for fourth week in a row


REUTERS ACTUAL FOR CHANGE VS YR-AGO CHANGE

FORECAST WEEK (EIA) PREVIOUS WEEK WEEK ENDED

CHANGE FOR ENDED 09/03/21

WEEK ENDED 08/26/22

09/02/22

CRUDE -0.3 MLN 418.3 MLN -3.3 MLN -1.5 MLN

DISTILLATE 0.5 MLN 111.7 MLN 0.1 MLN -3.1 MLN

GASOLINE -1.7 MLN 214.5 MLN -1.2 MLN -7.2 MLN

REFINERY RUNS -0.8 PCT PT 92.7% -1.1 PCT PT -9.4 PCT PTS

NATGAS STORAGE FORECAST 47 BCF TO 59 BCF (14 FORECASTS)

Sept 7 (Reuters) – US crude oil stockpiles are expected to have fallen for a fourth

consecutive week, with gasoline inventories also forecast to have dropped, an extended Reuters

poll showed on Wednesday.

Eight analysts polled by Reuters estimated on average that crude inventories dropped by

around 250,000 barrels in the week to Sept. 2.

The poll was conducted ahead of reports from the American Petroleum Institute, an industry

group, due at 4:30 pm EDT (2030 GMT) on Wednesday, and the US Energy Information

Administration, the statistical arm of the US Department of Energy, due at 11 am EDT (1500

GMT) on Thursday. Both sets of data were delayed a day due to the Labor Day federal holiday on

Monday.

Crude inventories fell by 3.3 million barrels in the week to Aug. 26 to 418.3

million barrels, a steeper decline than the 1.5 million-barrel drop forecasters predicted in a

Reuters poll.

Analysts estimated stockpiles of gasoline fell by about 1.7 million barrels

last week.

Distillate inventories, which include diesel and heating oil, were expected to

have risen 530,000 barrels last week.

The rate of refinery utilization for last week was forecast to have dropped 0.8

percentage point from 92.7% of total capacity for the week ended Aug. 26, the poll found.

All figures for fuel stocks are in millions of barrels. Refinery runs change is measured in

percentage points.

Organization Crude Distillate Gasoline Refinery runs

Again Capital -2.3 1.1 -1.8 0.6

Citi Futures -1.5 -1.0 -1.5 -0.5

Commodity Research Group -2.7 1.3 -1.8 -0.7

Confluence -2.5 0.5 -2.0 -1.0

DTN 2.2 0.8 -1.4 -0.6

Price Futures Group 3.0 -2.0 -2.0 -1.0

Refinitiv 0.8 NA -0.7 -0.8

Ritterbusch Associates 1.8 1.4 -1.5 -1.0

(Reporting by Swati Verma and Bharat Govind Gautam in Bengaluru; Editing by Cynthia Osterman)

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