DoE oil inventories expected to fall

Following the increase in data released by the American Petroleum Institute (API), a reverse trend is expected in the data to be released today by the US Department of Energy (DoE) Energy Information Administration (EIA). In a survey prepared by the WSJ, it was estimated that DoE oil stocks would decrease by 1.2 million barrels. Oil stocks had increased by 1.96 million barrels last week. API announced last night that oil stocks increased by 5.61 million barrels. The same survey estimated a decrease of 0.8 million barrels in DoE gasoline stocks and an increase of 0.3 million barrels in distillate stocks. API gasoline stocks increased by 1.22 million barrels, while distillate stocks decreased by 1.66 million barrels. According to API data, oil stocks in the Cushing region, which is the world's largest oil storage center and the intersection of pipelines within the US, where WTI type oil is priced, decreased by 390 thousand barrels. The capacity utilization rate to be announced by the DoE is estimated to increase from 93.7 percent to 94.2 percent. DoE data will be announced at 18:00 Turkish time.