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OIL: US Crude Stocks Seen Down 3.8m bbl Last Week: Macquarie

OIL
USEnergy BulletsNorth AmericaBulletCommodities

US crude oil inventories are expected to have fallen by 3.8m bbl in the week to Dec. 20, according to a note by Macquarie, cited by Bloomberg.

  • Macquarie forecast a modest increase in net imports, with exports falling by 0.2m b/d and imports up 0.1m b/d.
  • Implied domestic supply is seen falling by 0.7m b/d.
  • The SPR’s inventory is forecast to rise by 0.25m bbl on the week.
  • Gasoline inventories are expected to have risen by 2.5m bbl.
  • Distillate inventories are seen up 0.9m bbl on the week.
  • Jet fuel stocks are expected to rise by 0.1m bbl.
  • Combined implied product demand for gasoline, diesel, and jet fuel is seen at 14.4m b/d.
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US crude oil inventories are expected to have fallen by 3.8m bbl in the week to Dec. 20, according to a note by Macquarie, cited by Bloomberg.

  • Macquarie forecast a modest increase in net imports, with exports falling by 0.2m b/d and imports up 0.1m b/d.
  • Implied domestic supply is seen falling by 0.7m b/d.
  • The SPR’s inventory is forecast to rise by 0.25m bbl on the week.
  • Gasoline inventories are expected to have risen by 2.5m bbl.
  • Distillate inventories are seen up 0.9m bbl on the week.
  • Jet fuel stocks are expected to rise by 0.1m bbl.
  • Combined implied product demand for gasoline, diesel, and jet fuel is seen at 14.4m b/d.