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QP - The Week in Crude Oil Markets - July 29, 2019

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US crude oil inventories posted a large decrease of 10.8 MMbbl last week, the Energy Information Aministration reported. Gasoline inventories decreased 0.2 MMbbl while distillate inventories increased 0.6 MMbbl. Total petroleum inventories posted a decrease of 6.7 MMbbl. US crude oil production decreased 700,000 bbl/d last week, largely related to the hurricane-related shut-ins in the Gulf of Mexico. Crude oil imports were up 0.2 MMbbl/d from the previous week to 7.0 MMbbl/d. The expiration of the August WTI contract provided little......
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