US crude stocks to drop 1.8 million barrels: analysts

New York (Platts)--19Dec2006

US oil inventory data due to be released Wednesday by the US Energy
Information Administration and American Petroleum Institute are expected to
show a 1.8 million barrel decline in commercial crude stocks, analysts
surveyed by Platts said Tuesday.

Given the closing of the Houston Ship Channel several times last week,
imports are likely to fall further while inputs into refineries should rise,
resulting in a draw in inventories. US crude imports fell 701,000 b/d to 9.598
million b/d the week ending December 8, according to the EIA.

Refinery utilization is expected to climb 0.7% to 89.8%, based on last
week's EIA data.

--Linda Rafield, linda_rafield@platts.com

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