US crude, products inventories likely rose last week: Reuters Poll

Jan 5 (Reuters) – U.S. crude oil and product stockpiles were expected to have risen last week, a preliminary Reuters poll showed on Monday.

Four ‍analysts polled by Reuters ahead of weekly inventory data estimated on average that crude inventories rose by about 1.3 million barrels in the week to January 2. An extended poll that surveys more analysts will be published ‌on Tuesday.

The preliminary poll was conducted ‌ahead of weekly reports from the American Petroleum Institute at 4:30 p.m. EST (2130 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of ​Energy, at 10:30 a.m. EST (1530 GMT) on Wednesday.

Crude inventories fell by 1.9 million barrels to 422.9 ‍million barrels in the week ​ended December 26, the EIA said, ​compared with analysts’ expectations in a Reuters poll for a ‍867,000-barrel draw. Analysts pointed to ad valorem taxes applied to crude inventories – which typically prompt a reduction in stocks – as a reason for the drawdown.

REUTERS ACTUAL FOR PREVIOUS YR-AGO

FORECAST WEEK (EIA) WEEK CHANGE CHANGE

CHANGE ENDED  WEEK

FOR WEEK 12/26/25 ENDED

ENDED 01/03/2

01/02/26 5

CRUDE 1.3 MLN 422.9 MLN -1.9 MLN -1.0

MLN

DISTILLATE 2.7 MLN 123.7 MLN  5.0 ‍MLN  6.1

MLN

GASOLINE 3.9 MLN 234.3 MLN  5.8 MLN  6.3

MLN

REFINERY -0 PCT  94.7%  0.1 PCT PT  0.6

RUNS PT PCT PT

NATGAS -127 BCF TO -40 BCF (FOUR FORECASTS)

STORAGE

FORECAST

Analysts estimated distillate inventories, which include diesel and ‍heating oil, increased ‍by about 2.7 million barrels last ​week, while gasoline stockpiles rose by ​about 3.9 ⁠million barrels.

The rate of refinery utilization ‌was estimated to be unchanged from the previous week’s capacity, the poll found.

All figures for stocks are in millions of barrels. Refinery rate changes are measured in percentage points.

Organization Crude Distillat Gasolin Refinery

e e runs

Confluence 1.500 3.000 4.000 0.5

Price Futures 3.000 2.000 2.000 0.0

Group

Ritterbusch 1.000 2.400 3.800 -0.2

Rystad Energy -0.320 3.151 6.032

(Reporting by Anjana Anil in Bengaluru; Editing ⁠by Alexander Smith)