POLL-U.S. crude stocks seen falling for the fifth straight week

Aug 24 (Reuters)

REUTERS FORECAST CHANGE FOR WEEK ENDED 08/21/20

ACTUAL FOR WEEK (EIA) ENDED 08/14/20

CHANGE VS PREVIOUS WEEK

YR-AGO CHANGE WEEK ENDED 08/23/19

CRUDE

-3.8 MLN

512.5 MLN

-1.6 MLN

-10.0 MLN

DISTILLATE

-1.0 MLN

177.8 MLN

0.2 MLN

-2.1 MLN

GASOLINE

-1.7 MLN

243.8 MLN

-3.3 MLN

-2.1 MLN

REFINERY RUNS

-0.1 PCT PT

80.9%

-0.1 PCT PT

-0.7 PCT PT

NATGAS STORAGE FORECAST

39 BCF TO 58 BCF (FIVE FORECASTS)

Aug. 24 (Reuters) – U.S. crude oil stockpiles likely fell for a fifth straight week, while refined product inventories also decreased last week, a preliminary Reuters poll showed on Monday.

Five analysts polled by Reuters estimated, on average, that crude stocks likely fell by 3.8 million barrels in the week to Aug. 21.

Crude inventories USOILC=ECI fell by 1.6 million barrels in the week to Aug. 14 to 512.5 million barrels, less than analysts’ expectations in a Reuters poll for a 2.7 million-barrel drop.

The poll was conducted ahead of reports from the American Petroleum Institute, an industry group, at 4:30 p.m. EDT (2030 GMT) on Tuesday and the EIA, the statistical arm of the U.S. Department of Energy, at 10:30 a.m. on Wednesday.

Analysts estimated that inventories of gasoline USOILG=ECIwere expected to fall by 1.7 million barrels last week, their third straight decline.

Distillate inventories USOILD=ECI, which include diesel and heating oil, were seen decreasing 1 million barrels last week.

The rate of refinery utilization USOIRU=ECI was expected to decrease by 0.1 percentage point, from 80.9% of total capacity for the week ended Aug. 14, according to the poll.

All figures for fuel stocks in millions of barrels; refinery runs change measured in percentage points:

Organization

Crude

Distillates

Gasoline

Refinery Runs

Citi Futures

-5.0

-1.0

-2.0

-0.5

Confluence

-3.0

0.5

-1.0

0.5

EMI DTN

-6.9

-1.2

-2.0

-0.4

Excel Futures

-2.2

-1.2

-4.0

0.4

Ritterbusch Associates

-3.5

-0.9

-0.9

-0.3

(Reporting by Asha Sistla in Bengaluru; Editing by Richard Chang)

((Asha.Sistla@thomsonreuters.com; If within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2808; Reuters Messaging: Reuters Messaging: asha.sistla.thomsonreuters.com@reuters.net))

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