POLL-US crude inventories, product seen falling last week

March 21 (Reuters) - U.S. crude oil, distillate and gasoline inventories were seen drawing down last week, an extended Reuters poll showed on Tuesday.

Eight analysts polled by Reuters estimated on average that crude inventories fell by about 1.6 million barrels in the week to March 17.

The poll was conducted ahead of reports from the American Petroleum Institute, an industry group, due at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 10:30 a.m. (1430 GMT) on Wednesday.

REUTERS FORECAST CHANGE FOR WEEK ENDED 3/17/23

ACTUAL FOR WEEK (EIA) ENDED

3/10/23

CHANGE VS PREVIOUS WEEK

YR-AGO CHANGE WEEK ENDED 3/18/22

CRUDE

-1.6 MLN

480.1 MLN

1.6 MLN

-2.5 MLN

DISTILLATE

-1.5 MLN

119.7 MLN

-2.5 MLN

-2.1 MLN

GASOLINE

-1.7 MLN

236 MLN

-2.1 MLN

-2.9 MLN

REFINERY RUNS

1.0 PCT PT

88.2%

2.2 PCT PT

0.1 PCT PT

NATGAS STORAGE FORECAST

-68 BCF TO -81 BCF (SEVEN FORECASTS)

Crude inventories USOILC=ECI rose by 1.6 million barrels in the week to March 10 to 480.1 million barrels, compared with analysts' expectations in a Reuters poll for a 1.2 million-barrel rise.

Distillate inventories USOILD=ECI, which include diesel and heating oil, were expected to have decreased by about 1.5 million barrels last week.

Analysts estimated stockpiles of gasoline USOILG=ECI fell by about 1.7 million barrels last week.

The rate of refinery utilization USOIRU=ECI was seen 1.0 percentage point higher from 88.2% of total capacity for the week ended March 10, the poll found.

All figures for stocks are in millions of barrels. Refinery runs change is measured in percentage points.

Organization

Crude

Distillate

Gasoline

Refinery runs

Again Capital

-1.8

-1.4

-2.7

1.1

Citi Futures

-3.5

-1.5

-2.5

1.0

Confluence

1.5

-1.5

-1.0

1.0

Commodity Research Group

-1.8

-1.3

-0.4

-1.2

DTN

-1.2

0.8

1.2

0.5

Excel Futures

-1.8

-2.7

-2.4

1.1

Refinitiv

-1.8

N/A

-1.8

1.1

Ritterbusch Associates

-1.0

-1.8

-2.0

1.0

(Reporting by Ananya Bajpai and Rahul Paswan in Bengaluru; Editing by Marguerita Choy)

((RahulKumar.Paswan@thomsonreuters.com; If within U.S. +1 646 223 8780;;))

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