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ENERGY: Macquarie Forecasts U.S. Crude 4.8mn bbls Higher in EIA Report

ENERGY
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US crude oil inventories are expected to have risen by 4.8m bbl in the week to Jan. 24, according to a note by Macquarie .

  • Macquarie forecasts a large increase in net imports, with exports falling by a sharp 0.9m b/d and imports down a modest 0.2m b/d.
  • Implied domestic supply is seen rising by 0.1m b/d.
  • The SPR’s inventory is forecast to rise by 0.2m bbl on the week.
  • Gasoline inventories are expected to rise by 3.6m bbl.
  • Distillate inventories are seen down 1.4m bbl on the week.
  • Jet fuel stocks are expected to rise by 0.5m bbl.
  • Combined implied product demand for gasoline, diesel and jet fuel is seen at 13.7m b/d.
  • The EIA is set to release its weekly petroleum status report including data for the week ending Jan. 24 on Jan. 29.
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US crude oil inventories are expected to have risen by 4.8m bbl in the week to Jan. 24, according to a note by Macquarie .

  • Macquarie forecasts a large increase in net imports, with exports falling by a sharp 0.9m b/d and imports down a modest 0.2m b/d.
  • Implied domestic supply is seen rising by 0.1m b/d.
  • The SPR’s inventory is forecast to rise by 0.2m bbl on the week.
  • Gasoline inventories are expected to rise by 3.6m bbl.
  • Distillate inventories are seen down 1.4m bbl on the week.
  • Jet fuel stocks are expected to rise by 0.5m bbl.
  • Combined implied product demand for gasoline, diesel and jet fuel is seen at 13.7m b/d.
  • The EIA is set to release its weekly petroleum status report including data for the week ending Jan. 24 on Jan. 29.