U.S. crude oil inventories are expected to increase by the week ending April 9.
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2020-11-24 15:22
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Core Tip: It is expected that US crude oil and distillate fuel inventories will increase by the week ending April 9, while gasoline inventories will decrease.
According to a survey of analysts, the US Department of Energy will release data on April 14 showing an increase in US crude oil inventories, according to foreign media reports on April 12.
The Energy Information Administration (EIA), a branch of the US Department of Energy, will release data on crude oil inventories for the week ending April 9 at 10:30 AM ET on April 14. The American Petroleum Institute (API) will release related data at 4:30 PM ET on April 13.
According to the median estimate of eight analysts, crude oil inventories are expected to increase by 1.4 million barrels for the week ending April 9. All eight analysts predict an increase in inventories. The estimated range is between an increase of 0.5 million barrels and 2.5 million barrels.
Gasoline inventories are expected to decrease by 800,000 barrels, with five analysts predicting a decrease and three predicting an increase. The estimated range is between a decrease of 2.2 million barrels and an increase of 0.5 million barrels.
Distillate fuel inventories, including diesel and heating oil, are expected to increase by 600,000 barrels. Seven analysts expect an increase, and one expects a decrease. The estimated range is between an increase of 1.5 million barrels and a decrease of 1.2 million barrels.
The refinery capacity utilization rate is expected to remain unchanged at 84.5%. Three analysts predict an increase, two predict a decrease, and two predict no change.
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