Foreign news on May 16, an in-depth survey released on Tuesday showed that crude oil and gasoline inventories in the United States were expected to decrease last week, while distillate inventories were expected to increase.
On average, the seven analysts surveyed estimated that U.S. crude oil inventories were expected to fall by about 900,000 barrels in the week ending May 12.
U.S. crude inventories rose by 3 million barrels to 462.6 million barrels in the week ended May 5, compared with analysts' forecast for a drop of 900,000 barrels.
The American Petroleum Institute (API) will release the industry version of the crude oil inventory report at 4:30 Beijing time on Wednesday, and the U.S. Energy Information Administration (EIA) will release the official weekly crude oil inventory report at 22:30 Beijing time on Wednesday.
Distillate stockpiles, which include diesel and heating oil, are seen rising by 100,000 barrels in the week to May 12, while gasoline stocks are seen falling by about 1.1 million barrels.
The survey showed that refinery capacity utilization was expected to rise by 0.5 percentage points last week, from 91% in the week ended May 5.
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