Analysts expect growth in US oil stockpiles

US commercial crude-oil stockpiles are expected to have increased slightly from the previous week in data due January 25 from the Energy Department, according to a survey by The Wall Street Journal, Report informs referring to MarketWatch.

Estimates from 11 analysts and traders showed US oil inventories are projected to have risen by 100,000 barrels for the week ended January 20, with four analysts forecasting a decline and seven predicting an increase. Forecasts range from a decrease of 5 million barrels to an increase of 4.6 million barrels.

The closely watched survey from the DOE’s Energy Information Administration is scheduled for release at 10:30 a.m. ET January 25.

Gasoline stockpiles are expected to increase by 1 million barrels from the previous week, according to analysts. Estimates range from a decline of 3 million barrels to an increase of 3.7 million barrels.

Stocks of distillates, which is mostly diesel fuel, are expected to fall by 1 million barrels from the previous week. Forecasts range from a decrease of 2.9 million barrels to an increase of 2 million barrels.

Refinery use likely increased by 1.4 percentage points from the previous week to 86.7%. Forecasts range from no change to a 3 percentage-point increase. Two analysts didn’t make a forecast.