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(Bloomberg) — Oil fell for the third time in four days before U.S. government data forecast to show crude stockpiles expanded further from a record. Futures dropped as much as 0.5 percent in New York. Crude inventories probably increased by 3.3 million barrels last week, according to a Bloomberg survey of analysts before an Energy Information Administration report. OPEC officials will gather next month in Vienna with other producers to discuss the global market ahead of their June 5 ministerial meeting. Oil’s rally from a six-year low in March has been stymied by signs that a global supply glut that drove prices into a bear market last year will persist. The Organization of Petroleum Exporting Countries has resisted calls to cut production even as the U.S. pumped crude near the fastest pace in more than three decades. “Supply is one of the key factors that drove the large selloff and for that reason the EIA numbers will have intense scrutiny,” Michael McCarthy, a chief strategist at CMC Markets in Sydney, said by phone. “We’re likely to see subdued trading ahead of that key data.” West Texas Intermediate for June delivery declined as much as 27 cents to $56.79 a barrel in electronic trading on the New York Mercantile Exchange, and was at $56.82 at 11:33 a.m. Sydney time. The contract climbed 7 cents to $57.06 on Tuesday. The volume of all futures traded was about 83 percent below the 100- day average. Prices have advanced 19 percent in April, set for the biggest monthly gain since May 2009. Brent for June settlement was 14 cents lower at $64.50 a barrel on the London-based ICE Futures Europe exchange. It slid 19 cents to $64.64 on Tuesday. The European benchmark crude traded at a premium of $7.70 to WTI. U.S. crude stockpiles increased by 4.2 million barrels in the week ended April 20, the industry-funded American Petroleum Institute reported Tuesday, according to a person familiar with the data. The country is the world’s largest oil consumer.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net Yee Kai Pin, Glenys Sim