U.S. oil supplies probably rose last week as refineries undergoing seasonal maintenance cut their processing rates to the lowest level since April, reducing demand for crude, a Bloomberg News survey showed. Stockpiles gained 1 million barrels, or 0.3 percent, from 357.9 million, according to the median of 11 analyst estimates before an Energy Department report tomorrow. It would put inventories at their highest level since Sept. 3. Gasoline stocks were little changed in the survey and distillates fell. Oil prices climbed above $80 a barrel to the highest level in eight weeks after the Energy Department last week reported declines in supplies of gasoline and distillate, including heating oil and diesel. Oil stocks were 13 percent higher than the five-year average in the week ended Sept. 24. “We’re in the heart of maintenance season, so we’d expect a little bit of an increase in crude and a little bit of a drop in products,” said Phil Flynn, a Chicago-based analyst and trader with investment adviser PFGBest. “Refinery runs are going to continue to be low.” Refineries probably operated at 85.3 percent of capacity, down 0.5 percentage point from the previous week, according to the Bloomberg survey. That would be the lowest level since the seven days ended April 2. Rates dropped 2 percentage points in the week ended Sept. 24, compared with a forecast decline of 0.6 percent. Oil Imports Oil inventories decreased 475,000 barrels as imports tumbled 3.4 percent to 9 million barrels a day, the lowest level since Sept. 3. “There’s a little bit of room for an uptick in crude-oil imports, in particular with Enbridge restarting some of their pipeline capacity,” said Tim Evans, an energy analyst with Citi Futures Perspective in New York. Refinery maintenance work can make it easier to increase inventories, he said. Enbridge Energy Partners LP said Sept. 27 that it had begun the “gradual restart” of its Line 6B, which was shut down after a rupture July 26 spilled 19,500 barrels of oil near Marshall, Michigan. The line can carry 290,000 barrels a day of heavy crude oil from Griffith, Indiana, to Sarnia, Ontario. The closure reduced heavy crude supplies for refineries in Ohio, Pennsylvania and Ontario. BP Plc and United Refining Co. were forced to pare production after the pipeline was shut. Enbridge started its 6A oil pipeline, the largest conduit linking Canada and the U.S. Midwest, on Sept. 17 after a leak in Illinois on Sept. 9 shut the line. Eight analysts forecast oil supplies increased last week, and three projected a decline. Petroleum Supplies Oil for November delivery decreased from a seven-week high yesterday, falling 11 cents to settle at $81.47 a barrel on the New York Mercantile Exchange. It was at $81.54 a barrel in electronic trading on Nymex as of 7:11 a.m. in London today. U.S. stockpiles of oil and fuel fell 5.1 million barrels in the seven days ended Sept. 24 from a record 1.14 billion the prior week. The Sept. 17 figure was the highest level since at least 1990, when the Energy Department began to collect weekly data. “We’re desperately trying to put lipstick on this pig,” said Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis. “These supply and consumption fundamentals are still pretty stinky.” U.S. gasoline inventories probably lost 250,000 barrels in the seven days ended Oct. 1 from 222.6 million the prior week. Six analysts forecast supplies declined, four respondents said they rose and one estimated they were unchanged. Strengthening Exports Gasoline supplies tumbled 3.47 million barrels in the previous week, the biggest drop since the week ended Oct. 9, 2009, as demand for the motor fuel increased by 6.1 percent, the largest amount since February. Inventories were forecast to rise 350,000 barrels. Stockpiles were 13 percent above the five-year average. “Demand for products should continue to stay strong if not stronger,” said Carl Larry, president of Oil Outlooks & Opinions LLC in Houston. “This also might be the week where we see exports start to show a little more strength, and that could take more out of the product inventory.” Total fuel exports averaged a record 2.16 million barrels a day for a third straight week in the seven days ended Sept. 24, according to the department. Oil prices in September posted their biggest monthly gain since May 2009 and gasoline jumped the most since March as unemployment and gross domestic product reports signaled that the economy is growing and will boost demand for fuels. Distillate Fuel Gasoline for November delivery rose 0.72 cent, or 0.4 percent, to settle at $2.0933 a gallon yesterday on the Nymex, the highest closing price since Aug. 9. Stockpiles of distillate fuel, a category that includes heating oil and diesel, probably dropped 1 million barrels, or 0.6 percent, from 173.6 million. All 11 respondents in the survey forecast a decline. Inventories in the week ended Aug. 20 were the most since 1983. They were 22 percent above the five-year average in the week ended Sept. 24. Supplies have fallen in four of the past five weekly reports.

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