Weekly oil data from the US Energy Information Administration and the American Petroleum Institute should show a 200,000-barrel rise in US commercial crude inventories for the week ended October 21, analysts polled by Platts said Monday.
API is scheduled to release its weekly data at 4:30 p.m. EDT (2030 GMT) Tuesday. EIA's weekly oil statistics will be released at 10:30 a.m. EDT (1430 GMT) Wednesday.
Although on average analysts forecast a rise in stocks, Jacob Correll, commodity analyst at Summit Energy, expects a slight draw in US crude inventories of around 1 million barrels.
"We have seen a situation where stocks have fallen quite a bit and we don't typically see that, but I am still anticipating a slight draw as we are in a position to see lower imports due to some tightness in the market [outside the US]," Correll said.
Analysts on average are anticipating a slight rise in refinery utilization by 0.4 percentage points to 83.5% of capacity.
In products, US gasoline stocks are forecast to fall 1.25 million barrels and domestic distillate stocks should fall 1.5 million barrels, according to analysts.
Data released last week showed that refinery utilization for the week to October 14 fell 1.1 percentage points to 83.1%.
"Refinery utilization came off so we will likely see product stocks draw," Correll said.
Refinery operations typically drop this time of the year as refiners enterfall maintenance.
