MOSCOW, August 31 – PRIME. US commercial oil inventories are likely down for the third week in a row. Inventories of gasoline and distillates are also expected to decline. This is the forecast of analysts polled by Reuters.
According to an average of eight analysts, US oil inventories fell by about 1.5 million barrels in the week of August 20-26.
Analysts were polled ahead of the release of the American Petroleum Institute (API) report Tuesday evening and Energy Information Administration (EIA) data from the US Department of Energy, which are expected at 1430 GMT on Wednesday.
In the week of August 13-19, oil inventories fell by 3.3 million barrels to 421.7 million barrels, the EIA said. At the same time, analysts’ forecast suggested a decrease of 933,000 barrels.
Gasoline inventories, on average, expect analysts polled, decreased by about 1.2 million barrels in the reporting week compared to the previous week.
Inventories of distillates, including heating and diesel fuel, as analysts assume on average, fell by 1 million barrels during the reporting week.
U.S. refinery capacity utilization in the reporting week likely dropped by 0.4 percentage points to 93.8%.