"In Wednesday's EIA report, US crude oil inventories in the week...

"In Wednesday's EIA report, US crude oil inventories in the week ended July 19 fell by -3.74 million bbls, a larger drop than expectations of -3.5 million bbls. Gasoline inventories fell by -5.572 million bbls, the largest drop since March. The EIA report showed that (1) US crude oil inventories as of July 19 were -5.1% below the seasonal 5-year average, (2) gasoline inventories were -1.8% below the seasonal 5-year average, and (3) distillate inventories were -8.6% below the 5-year seasonal average. US crude oil production in the week ending July 19 was unchanged w/w and matched a record high of 13.3 million bpd.

Baker Hughes reported last Friday that active US oil rigs in the week ending July 19 fell -1 rig to a 2-1/2 year low of 477 rigs. The number of US oil rigs has fallen over the past year from the 4-year high of 627 rigs posted in December 2022."
https://www.barchart.com/story/news/27614374/crude-oil-prices-see-support-from-positive-us-gdp-report