Analysts have forecast that U.S. crude stockpiles rose 2.5 million barrels last week - a fifth straight weekly build - while gasoline inventories grew 1.1 million barrels - a sixth consecutive weekly build. "A strong build in inventory reports could weigh on gasoline in a seasonal time frame where gasoline demand is weak." But market players are concerned that rising U.S. shale production and signs of slowing demand growth could offset these efforts. Societe Generale oil analyst Michael Wittner said U.S. shale oil output was recovering faster than expected. Chinese oil demand grew in 2016 at the slowest pace in at least three years, Reuters calculations showed, the latest sign of slower demand from the world's largest energy consumer.

Source: The Edge Markets February 07, 2017 21:45 UTC