By Christopher Johnson LONDON (Reuters) - Oil slipped toward $77 a barrel on Tuesday ahead of data expected to show crude inventories rising in the United States but trade was thin ahead of the Thanksgiving holiday. A weekly report from the American Petroleum Institute (API) due at 4:30 p.m. EST (2130 GMT) was likely to paint a bearish picture of U.S. energy demand, analysts said. A Reuters survey of analysts forecast the U.S. inventory data would show a 1.6 million barrel build in crude stocks for the week to November 20, as production rebounded from Gulf of Mexico disruptions caused by Tropical Storm Ida. U.S. crude for January delivery eased 11 cents to $77.45 a barrel by 7:55 a.m. EST (1255 GMT), after settling up 9 cents at $77.56 on Monday. London Brent crude was up 19 cents to $77.65. With economic data due this week, including November consumer confidence and revised U.S. third-quarter gross domestic product figures later on Tuesday, and the minutes of the Fed's last policy meeting, traders will be scouring the numbers for signs of improvement in the world's largest economy. While oil is up about 74 percent this year, it is still down 47 percent from its July 2008 high above $147 a barrel. U.S. crude and Brent futures have been oscillating within a tight range between $75 and $81 per barrel over the last month. "The floor has been set by the weaker dollar/higher expected inflation theme, while the ceiling has been set by weak refining margins, lackluster demand (except for China), and a global economic recovery that is expected to be sluggish and has long since been priced in," said Mike Wittner, global head of oil research at Societe Generale. REUTERS POLL A Reuters poll forecast on Tuesday that growing oil use would probably outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis. The survey of 10 top oil-tracking analysts and organizations predicted oil demand would rise by 1.3 million barrels per day (bpd) next year to 85.9 million bpd. At the same time, the rise in production from outside the Organization of the Petroleum Exporting Countries and output of natural gas liquids (NGLs) from OPEC members is seen growing by just 800,000 bpd in total. Click here for Reuters table of results ID:GEE5AN0S3 Click here for a graphic illustrating the changes: here At 8:30 a.m. EST (1330 GMT), the U.S. Commerce Dept will unveil its revised estimate of third-quarter GDP growth. Economists forecast a 2.9 percent annualised pace of growth, compared with a 3.5 percent rate in the first Q3 estimate. A U.S. consumer confidence reading for November will also be released by the Conference Board at 10:00 a.m. EST (1500 GMT). Economists expect a reading of 47.7, steady versus October's level. Investors have been buying into commodities in a bid to hedge against the dollar's weakness and to guard against concerns an ultra-easy monetary policy could lead to a jump in inflation as the world economy rebounds. Prices were also supported by forecasts of a colder-than-expected U.S. winter early next year.

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