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US Crude Stocks Likely Saw First Fall in 7-Weeks: WSJ

OIL

US crude oil stocks likely fell for the first time in seven weeks, according to a survey by the WSJ.

  • Results of the survey expects a draw of 1m bbl to 448.7m bbl in the week to Dec. 1, based on the average response from ten analysts and traders.
  • If correct, that would put stocks 8.4% higher than the same period in 2022.
  • Expectations for crude inventories ranged from a draw of 3m bbl to a build of 2m bbl. Eight respondents expect a decrease.
  • Gasoline inventories are expected to rise by 0.7m bbl to 218.9m bbl. Responses ranged from a draw of 3m bbl to a build of 4.5m bbl.
  • Distillate stocks are expected to increase by 1m bbl to 111.8m bbl. Responses ranged from a draw of 3m bbl to a build of 3.5m bbl.
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