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QP - The Week in Crude Oil Markets - August 12, 2019

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US crude oil inventories posted an increase of 2.4 MMbbl last week, according to the weekly US Energy Information Administration report. Gasoline inventories increased 4.4 MMbbl, while distillate inventories increased 1.5 MMbbl. With all these increases, total petroleum inventories posted a large build of 10.4 MMbbl. US crude oil production increased 100,000 bbl/d, while crude oil imports were up 490,000 bbl/d to an average of 7.1 MMbbl/d. Prices were down all week as the......
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