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US Crude Stocks Seen Down 0.7m bbl in Week to Aug. 2: Updated Reuters

OIL

US crude inventories are seen down 0.7m bbl in the week to Aug. 2, according to an extended Reuters survey of nine analysts.

  • Responses ranged from -3.5m bbl to +2.8m bbl.
  • By comparison, Reuters initial survey estimate Aug. 5 expected a build of 0.9m bbl based on responses from four analysts.
  • Gasoline inventories are expected to have fallen by 1.0m bbl. Responses ranged from -3.7 m bbl to +1.3m bbl.
  • Distillate inventories, mainly diesel, are seen with a rise of 0.2m bbl. Responses ranged from -2m bbl to +1.9m bbl.
  • Refinery capacity use is projected to be up 0.8 percentage points at 90.9%.
  • The official figures will be released by the EIA at 10:30 ET Aug. 7.
  • The WSJ survey today forecast the following: crude -0.7m bbl, gasoline -1.3m bbl, distillates +0.5m bbl, refinery runs +0.7 pp.

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