U.S. crude inventories forecast to drop 2.4 million barrels OPEC’s production climbed by 336,100 barrels a day in May Oil rebounded after dipping below $46 a barrel as estimates that U.S. supplies declined helped investors turn their attention away from higher OPEC production. Futures closed 0.8 percent higher in New York after earlier dropping as much as 1.1 percent. U.S. crude inventories are forecast to have shrunk by 2.45 million barrels last week, according to a Bloomberg survey before an Energy Information Administration release Wednesday. That helped offset concerns over a report from the Organization of Petroleum Exporting Countries that the group’s output climbed the most in six months in May. Oil has lingered near $46 a barrel since the EIA reported last week that total U.S. crude and product stockpiles jumped by the most since 2008 in the week ended June 2. Saudi Arabia has sought to allay […]