Foreign news on May 8, a preliminary survey released on Monday showed that crude oil inventories in the United States were expected to decrease for the fourth consecutive week last week, and gasoline and distillate inventories were also expected to decline.
On average, the six analysts surveyed estimated that U.S. crude oil inventories were expected to fall by about 1.6 million barrels in the week ended May 5.
U.S. crude inventories fell by 1.3 million barrels to 459.6 million barrels in the week ended April 28, compared with analysts' forecast for a drop of 1.1 million 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 falling by about 800,000 barrels in the week ended May 5, while gasoline inventories are seen falling by about 1.3 million barrels.
Refinery capacity utilization was expected to rise 0.6 percentage points last week to 90.7% in the week ended April 28, the survey showed.
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