Analysts See Weekly Decline in U.S. Crude Oil Stockpiles

Analysts predict moderate withdrawals in U.S. crude oil, gasoline, and distillate inventories for the week ended July 24. Crude stocks are expected to fall by 600,000 barrels, gasoline by 800,000 barrels, and distillates by 300,000 barrels. Refinery capacity utilization is forecast to decline slightly to 95.8%. The official data will be released by the EIA on Wednesday.

By Anthony Harrup

U.S. crude oil and products inventories likely saw moderate withdrawals last week, according to a survey by The Wall Street Journal.

Commercial crude stocks are seen falling by 600,000 barrels, to 411.1 million barrels, in the week ended July 24, according to the average estimate of eight analysts and traders. Five predict a decline and three expect an increase, with estimates ranging from a 2.6 million barrel build to a 2.6 million barrel draw.

Gasoline inventories are expected to have fallen by 800,000 barrels, to 210.5 million barrels, with forecasts ranging from a 1 million barrel rise to a 2.2 million barrel drop.

Stocks of distillate fuel, mostly diesel, are seen down by 300,000 barrels, at 109.3 million barrels. Estimates range from a 2 million barrel decline to a 1.6 million barrel increase.

Refinery capacity use likely fell to 95.8% from 96.1% the week before, according to the survey, with estimates ranging from a 0.2 percentage point increase to a 0.9 percentage point decline. One analyst didn't forecast refinery runs.

The U.S. Energy Information Administration is scheduled to release the inventory data on Wednesday at 10:30 a.m. EDT.

                                      Crude    Gasoline  Distillates Refinery Use     Again Capital                    -1.6       -1.8       -1.1       -0.9     Confluence Investment Management  1.0        0.5        0.5       -0.2     Rystad Energy                     2.6       -1.7        0.9       -0.3     Excel Futures                    -1.8       -1.1        1.4       -0.4     Spartan Capital Securities       -1.7       -0.4        1.6        n/f     Mizuho                            1.0       -1.0       -2.0       -0.5     Price Futures Group              -2.0        1.0       -2.0       unch     Ritterbusch and Associates       -2.6       -2.2       -1.5        0.2       AVERAGE                          -0.6       -0.8       -0.3       -0.3

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

n/f = no forecast

unch = unchanged

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

July 28, 2026 13:03 ET (17:03 GMT)

Crude Gasoline Distillates Refinery Use Again Capital -1.6 -1.8 -1.1 -0.9 Confluence Investment Management 1.0 0.5 0.5 -0.2 Rystad Energy 2.6 -1.7 0.9 -0.3 Excel Futures -1.8 -1.1 1.4 -0.4 Spartan Capital Securities -1.7 -0.4 1.6 n/f Mizuho 1.0 -1.0 -2.0 -0.5 Price Futures Group -2.0 1.0 -2.0 unch Ritterbusch and Associates -2.6 -2.2 -1.5 0.2 AVERAGE -0.6 -0.8 -0.3 -0.3