Twenty of 40 analysts surveyed, or 50%, said oil prices will rise. Thirteen, or 33%, said prices will decline and seven forecast little change.

Last week, 38% of respondents said prices would rise.

US refineries operated at 89.5% of capacity last week, the third straight weekly gain, the energy department reported on Wednesday.

The profit margin for turning oil into fuels is the highest since at least 1989, based on closing futures prices in New York. Refiners usually bolster output now because demand for gasoline peaks during the annual driving season, which begins this month.

Crude oil for June delivery rose $2.49, or 4%, to $64.86 a barrel in the first four days of trading last week on the New York Mercantile Exchange.

The oil survey has correctly predicted the direction of prices 53% of the time since it was introduced in April 2004.