October 28, 2019 / 5:58 PM / 17 days ago

U.S. crude stockpiles seen up, products likely fell last week: Reuters poll

FILE PHOTO: A pumpjack is shown outside Midland-Odessa area in the Permian basin in Texas, U.S., July 17, 2018. REUTERS/Liz Hampton

Oct 28 (Reuters) - U.S. crude oil stockpiles were expected to have increased last week, while refined products stocks likely fell, a preliminary Reuters poll showed on Monday.

Five analysts polled by Reuters estimated, on average, that crude inventories rose around 700,000 barrels in the week to Oct. 25.

Crude inventories USOILC=ECI fell by 1.7 million barrels in the week ended Oct. 18, compared with analysts’ expectations for an increase of 2.2 million barrels.

The poll was conducted ahead of reports from the American Petroleum Institute (API), an industry group, and the Energy Information Administration (EIA), an agency of the U.S. Department of Energy.

The API is scheduled to release its data for the latest week at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the weekly EIA report is due at 10:30 a.m. EDT on Wednesday.

Analysts estimated that stockpiles of gasoline USOILG=ECI were likely fell 2.3 million barrels last week.

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, were seen down by 2.3 million barrels.

The rate of refinery utilization USOIRU=ECI was expected to increase 0.7 percentage point last week, from 85.2% of total capacity for the week ended Oct. 18, according to the poll.

All figures for fuel stocks in millions of barrels; refinery runs change measured in percentage points:

Reporting by Anjishnu Mondal in Bengaluru; Editing by Marguerita Choy

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