Analysts expect a decline in US oil inventories in the week of August 20-26

MOSCOW, 31 Aug — PRIME. Commercial stocks of oil in US storage facilities during the reporting week are likely to have decreased compared to the previous week. This is the forecast of analysts and traders polled by the Wall Street Journal.

According to an average of 9 analysts and traders, oil inventories in the US in the week of August 20-26 decreased by 1.2 million barrels. Five analysts suggest a reduction in inventories, and four expect growth. Estimates range from -3.8 million barrels to +2.2 million barrels.

The release of the Energy Information Administration’s (EIA) weekly report from the US Department of Energy is expected at 1430 GMT on Wednesday.

Gasoline inventories, on average, analysts surveyed expect to be down 1.1 million barrels from the previous week. Estimates range from -2.9 million barrels to +2 million barrels.

Inventories of distillates, including heating oil and diesel fuel, as analysts assume on average, decreased by 900,000 barrels in the reporting week. Estimates range from -2 million barrels to +1.3 million barrels.

U.S. refinery capacity utilization fell 0.3 percentage points to 93.5% this week, the EIA is likely to report. Forecasts range from -1 percentage point to +0.8 percentage point. Two analysts did not provide a forecast for this indicator.

Data released on Tuesday from the American Petroleum Institute (API) showed an increase in oil inventories for the reporting week by 593,000 barrels, as well as a decrease in gasoline and distillate inventories by 3.4 million barrels and 1.7 million barrels, respectively.