By Anthony Harrup
U.S. crude oil inventories likely rose for a third consecutive week amid lower refinery use, while product stocks are seen as mixed with increases in gasoline and a decline in diesel, according to a survey by The Wall Street Journal.
Commercial crude oil stocks are expected to have risen by 1 million barrels to 427 million barrels in the week ended Jan. 23, according to the average estimate of nine analysts and traders. Seven expect an increase and two predict a decline. Expectations range from a rise of 3.1 million barrels to a withdrawal of 3 million barrels.
Gasoline inventories are expected to be up by 1 million barrels at 258 million barrels in an 11th consecutive weekly build, with estimates ranging from an increase of 3.9 million barrels to a decline of 3 million barrels.
Stocks of distillate fuel, mostly diesel, are seen falling by 1.4 million barrels to 131.2 million barrels, with forecasts ranging from a 4.7 million barrel drop to a 2.5 million barrel rise.
Refinery capacity use likely fell by 0.6 of a percentage point to 92.7%, according to the survey. Forecasts range from a 0.6 percentage point rise to a 1.2 percentage point decline. Two analysts 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. EST.
Crude Gasoline Distillates Refinery Use
Again Capital 2.4 3.1 1.1 0.6
Confluence Investment Management 1.5 -0.5 -1.5 -0.8
Rystad Energy 2.8 3.3 -4.0 -1.1
Excel Futures 3.1 3.9 2.5 -1.2
Spartan Capital Securities 1.1 -2.6 -2.7 n/f
Mizuho -2.0 2.0 1.0 -0.5
Price Futures Group -3.0 -3.0 -3.0 -1.0
Ritterbusch and Associates 2.0 1.0 -4.7 -0.3
Tradition Energy 1.1 1.5 -1.5 n/f
AVERAGE 1.0 1.0 -1.4 -0.6
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
January 27, 2026 12:58 ET (17:58 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
