Oil Inventory Report - July 19

[dan_s]

If we keep getting reports like this, WTI will move back over $50

The Energy Information Agency said crude inventories fell by 4.727 million barrels after a drop of 7.564 million barrels the previous week.
Crude inventories were forecast to fall by 3.214 million barrels.
Gasoline stocks fell by 4.445 million barrels after a drop of 1.647 million barrels the previous week.
Gasoline inventories were expected to fall by 655,000 barrels.

[dan_s]

Increase in DUC wells supports my belief that oilfield services, midstream and sand companies cannot keep up, which is why I think oil production growth has slowed .

Read: http://www.oilandgas360.com/completions ... rt-global/