Estimates from eleven analysts and traders surveyed confirmed U.S. oil inventories are projected to have increased by 2.5 million barrels, on average, in the week ended Feb. 2.
Ten analysts count on a rise and one analyst expects stockpiles to fall. Forecasts vary from a decrease of 1.7 million barrels to a rise of three.8 million barrels.
The closely watched survey from the Energy Information Administration is scheduled to be released at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are anticipated to rise by seven hundred,000 barrels on common, in line with analysts. Seven analysts count on them to rise and three anticipate them to fall. Numbers One analyst expects no change. Estimates range from a decline of 3 million barrels to an increase of 4 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to decrease by 1.1 million barrels. Two analysts expect a rise and nine analysts expect a lower. Forecasts vary from a decline of 3 million barrels to an increase of 1.2 million barrels.
Refinery use is seen on average falling by zero.2 proportion point to 87.9% of capability. Two analysts expect a rise and seven anticipate petrochemical Products a lower. Two didn’t report expectations. Forecasts range from a drop of 1 level to an increase of 1.1 points.