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Sep 06, 2010

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DJ US OIL INVENTORIES SURVEY: Crude Inventories Seen Higher

Feb 08, 2010

NEW YORK (Dow Jones)--U.S. crude oil and gasoline stocks are expected to increase in data due Wednesday from the Department of Energy, according to a Dow Jones Newswires survey of analysts.

The data, put out by the department's Energy Information Administration and covering the week ended this past Friday, are due to be released at 10:30 a.m. EST Wednesday. The American Petroleum Institute, an industry group, will put out its data at 4:30 p.m. EST Tuesday.

The EIA is delaying several other oil market reports due this week, as government offices were closed in Washington, D.C. on Monday following a weekend snowstorm. However, the agency has so far not changed the release time for its inventory data.

Crude oil inventories are expected to rise by 1.4 million barrels, according to the mean of eight analysts' forecasts. Seven analysts predict a gain, with one expecting no change. Forecasted increases range from 400,000 barrels to 2.2 million barrels.

Gasoline stocks are expected to rise by 200,000 barrels, with four analysts predicting an increase and four a decline. Forecasts range from a drop of 1.3 million barrels to a gain of 2.2 million barrels.

Distillate stocks, including diesel and heating oil, are expected to fall 1.8 million barrels. All analysts expect a decline, with forecasted drops ranging from 500,000 barrels to 3.8 million barrels.

Refiners are expected to lift processing rates by 0.3 percentage point to 78% of capacity.


Analyst Crude Gasoline Distillates Refining

Cameron Hanover +1.75 +1.25 -2.25 +0.55
Citi Futures +1.5 +1 -1.5 +0.5
GA Global Markets +1.5 -0.75 -2.5 +0.1
MF Global-Fitzpatrick +0.4 +2.2 -1.7 +1
Ritterbusch & Assoc. unch -1.2 -0.5 -0.5
Societe Generale +1.7 +1.2 -1.4 +0.6
Summit Energy +2.2 -1.3 -3.8 unch
Tradition Energy +2 -1 -1 +0.4

Average +1.4 +0.2 -1.8 +0.3

Figures in millions of barrels except for refining use, which is reported in percentage points. Figures are rounded to
two decimal
places in table, one decimal place in averages and story. For analysts providing forecasts in a range, the average of the
upper and
lower ends of the range is used.


-By Brian Baskin, Dow Jones Newswires; 212-416-2453; brian.baskin@dowjones.com