Macquarie Strategists Forecast Large U.S. Crude Build

SEATTLE (Oil Monster): According to their most recent analysis, Macquarie strategists predict a significant increase in U.S. crude in the U.S. Energy Administration's (EIA) weekly petroleum status report, which is scheduled for release tomorrow.

They estimate that 7.9 million barrels of crude will be produced in the United States. It predicts that net imports would rise by 1.1 million barrels per day and that runs will continue to rise by 0.2 million barrels per day. In addition, the week ending March 7, 2025, is anticipated to have a 0.6 million barrel rise in the Strategic Petroleum Reserve (SPR) inventory.

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The report forecasts a draw of 1.4 million barrels in gasoline, a build of 0.4 million barrels in distillate and a build of 0.5 million barrels in jet fuel.

According to the EIA's report released last week, which detailed statistics for the week ending February 28, commercial crude oil stockpiles, excluding those in the SPR, increased by 3.6 million barrels. The strategists pointed out that while the nominal suggested domestic supply of 14.2 million barrels per day exceeded forecasts, net imports of -0.4 million barrels per day were somewhat below them.


On February 28, the total amount of crude oil inventories, excluding the SPR, was 433.8 million barrels. At the end of the week, SPR's crude oil reserves were at 395.3 million barrels. According to the report, there were 1.6 billion barrels of petroleum in total.