On Monday, November 3, a preliminary survey indicated that U.S. crude oil inventories are expected to increase last week, while gasoline and distillate fuel inventories are likely to decline.

According to the average estimate of five surveyed agencies, U.S. crude oil inventories increased by approximately 500,000 barrels in the week ending October 31.

An expanded survey covering more analysts will be released on Tuesday.

The American Petroleum Institute (API) will release its industry-wide weekly inventory report at 04:30 Beijing time on Wednesday, and the U.S. Energy Information Administration (EIA) will release its official inventory report at 22:30 Beijing time on Wednesday.

The EIA report showed that U.S. crude oil inventories decreased by 6.86 million barrels to 416 million barrels in the week ending October 24, while analysts had expected a decrease of 211,000 barrels.

According to the latest analyst estimates, distillate fuel inventories, including diesel and heating oil, are expected to decrease by approximately 1.5 million barrels last week, while gasoline inventories are expected to decrease by approximately 300,000 barrels.

The survey shows that refinery capacity utilization is expected to rise by 0.9 percentage points from 86.6% the previous week.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.