The Platts pre-report survey of analysts’ EIA/API estimates suggest a build of 1.5 million barrels in US crude oil stocks
Platts Survey of Analysts
- Crude oil stocks up 1.5 million barrels
- Gasoline stocks up 900,000 million barrels
- Distillates stocks down 1.5 million barrels
- Refinery utilization, or run rate, up 0.4 percentage point to 82.9%
New York - October 25, 2010
Weekly oil data from the U.S. Energy Information Administration (EIA) and the American Petroleum Institute (API) is expected to show a build of approximately 1.5 million barrels in U.S. commercial crude stocks for the reporting week ended October 22, analysts polled by Platts said Monday.
API is scheduled to release its weekly data at 4:30 p.m. EDT (2030 GMT) Tuesday. EIA's weekly oil statistics will be released at 10:30 a.m. EDT (1430 GMT) Wednesday.
“Another build in crude oil stocks would be in line with seasonal tendencies,”said Linda Rafield, Platts senior oil analyst and editor of the weekly Platts Futures and Derivatives Review, a supplement to Platts’ Oilgram Price Report. “Historically, crude inventories build during refinery maintenance season because there are fewer barrels being run through facilities.”
Analysts project refinery utilization to increase by 0.4 percentage point to 82.9%.
Gasoline stocks are expected to increase 900,000 barrels as low levels of demand will likely offset less-than-optimal output. “Gasoline and distillate stocks tend to decline during turnarounds due to lower levels of production,” Rafield said.
Stocks of middle distillates are projected to decline 1.5 million barrels as cooler temperatures along the Atlantic Coast, a key-consuming region, are apt to have pushed demand higher.
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