US crude, product inventories seemingly fell final week: Reuters ballot

(Reuters) – U.S. crude oil and gasoline stockpiles are anticipated to have fallen final week, a preliminary Reuters ballot confirmed on Monday.

Three analysts polled by Reuters estimated on common that crude inventories fell by about 2 million barrels within the week to Dec. 20.

The ballot was performed forward of a report from the American Petroleum Institute trade group at 4:30 p.m. EST (2130 GMT) on Tuesday and one from the Power Info Administration, the statistical arm of the U.S. Division of Power, at 1 p.m. EST (1800 GMT) on Friday.

The EIA’s weekly report, which is normally launched on Wednesday, is delayed till Friday because of the Christmas vacation.

Crude inventories fell by 934,000 barrels to 421 million barrels within the week ended Dec. 13, the EIA mentioned, in contrast with analysts’ expectations in a Reuters ballot for a 1.6-million-barrel draw.

  REUTERS FORECAST ACTUAL FOR PREVIOUS WEEK YR-AGO CHANGE

  CHANGE FOR WEEK WEEK (EIA) CHANGE WEEK ENDED

        ENDED ENDED  12/22/23

12/20/24 12/13/24

CRUDE  -2.0 MLN 421 -0.9 MLN -7.1 MLN

DISTILLATE -1.1 MLN 118.2   -3.2 MLN  0.7 MLN

GASOLINE -2.7 MLN 222 2.3 MLN -0.7 MLN

REFINERY RUNS   -0.4 PCT PT 91.8 -0.6 PCT PT   0.9 PCT PT

NATGAS STORAGE -100 BCF TO -94 BCF (FOUR FORECASTS)

FORECAST

Analysts estimated stockpiles of gasoline fell by about 2.7 million barrels final week, whereas distillate inventories, which embody diesel and heating oil, had been anticipated to have decreased by about 1.1 million barrels.

The speed of refinery utilization was estimated to have decreased by 0.4 proportion level from 91.8% of complete capability within the earlier week, the ballot discovered.

All figures for shares are in thousands and thousands of barrels. Refinery-rate adjustments are measured in proportion factors. 

Group Crude Distillate Gasoline Refinery

runs

Worth Futures Group -3.0 -3.0 -3.0 -1.0

Ritterbusch Associates -2.0 1.9 -1.0 -0.4

Rystad Power -0.6 -1.1 -2.7 0.3