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QP - The Week in Crude Oil Markets - July 15, 2019
US crude oil inventories posted a large decrease of 9.5 MMbbl last week, according to the weekly EIA report. Gasoline inventories decreased 1.5 MMbbl, while distillate inventories increased 3.7 MMbbl. The total petroleum inventories showed a decrease of 3.8 MMbbl. US crude oil production increased 100,000 bbl/d last week per EIA. Crude oil imports were down 0.3 MMbbl/d to an average of 7.3 MMbbl/d versus the week prior. Prices regained their bullish momentum primarily on the effects from Hurricane Barry in......
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