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Analysts Predict Modest Drawdown in U.S. Crude Inventories

A projected decline of 300,000 barrels in commercial crude oil stocks headlines the latest industry survey, as traders brace for the U.S. Energy Information Administration’s upcoming report. The consensus among nine analysts points to a tightened market for the week ended October 16, though individual forecasts remain sharply divided.

Analysts Predict Modest Drawdown in U.S. Crude Inventories

The average estimate suggests a drop to 415.3 million barrels, reflecting a wider market split where six analysts anticipate a withdrawal and three expect a build. Predictions vary significantly, spanning a range from a 3 million barrel drawdown to a 2.5 million barrel increase. Gasoline inventories are expected to remain flat at 208.3 million barrels, with estimates showing a similarly broad spread between potential builds and declines.

Distillate fuel stocks, primarily diesel, are forecast to shrink by 1.3 million barrels to 101.3 million barrels. Meanwhile, refinery capacity utilization is projected to tick up by 0.1 percentage point to 93.6%. The official data release from the Energy Information Administration is set for Wednesday at 10:30 a.m. ET, providing the definitive account of the week's supply shifts.

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