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QP - The Week in Crude Oil Markets - August 05, 2019

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US crude oil inventories posted a decrease of 8.5 MMbbl last week, according to the weekly Energy Information Administration report. Gasoline inventories decreased 1.8 MMbbl, while distillate inventories decreased 0.9 MMbbl/d. With the draw in crude inventories, total petroleum inventories posted a significant decrease of 10.1 MMbbl. US crude oil production increased 900,000 bbl/d on the week as hurricane-related shutins came back online. Crude oil imports were down 0.37 MMbbl/d to an average of 6.7 MMbbl/d. Prices started the week on......
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