Fri Sep 20 11:07:42 UTC 2024: ## US Crude Oil Stocks Expected to See Large Draw Next Week: Macquarie
**Houston, TX – September 21, 2023** – Macquarie strategists are forecasting a significant draw in US commercial crude oil stocks for the week ending September 20, according to a report sent to Rigzone. The analysts predict a decrease of 8.2 million barrels, driven by several factors including lower refinery runs and reduced imports.
The report highlights that while the latest EIA weekly petroleum status report revealed a smaller-than-expected draw in commercial crude (1.6 million barrels), the upcoming report is likely to show a much larger decrease. This is attributed to a projected drop in refinery runs, a significant decline in implied domestic supply, and a slight increase in Strategic Petroleum Reserve (SPR) inventory.
However, the Macquarie team cautioned that volatility may persist due to incomplete data for the current week and potential lingering effects from recent storms. They anticipate a rebound in crude and product exports this week, contributing to the anticipated draw in US crude inventories.
In terms of petroleum products, the analysts expect draws in gasoline (1.5 million barrels) and distillate (3.7 million barrels), with a build in jet fuel (0.5 million barrels).
The EIA’s next weekly petroleum status report, scheduled for release on September 25, will provide a clearer picture of the US crude market and the impact of these potential shifts.
First Piper 