The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -2.11 mmb to 1452.57 mmb in the week ended July 31. Crude oil inventory declined -7.37 mmb (consensus: -3 mmb) to 518.6 mmb. Stockpile fell in 3 out of 5 PADDs. PADD 3 (Gulf Coast) inventory alone slumped -7.39 mmb during the week. Cushing stock rose +0.53 mmb to 51.95 mmb. This marks the fifth straight week of stock-build. Utilization rate added +0.1 percentage points to 79.6% while crude production slipped -0.1M bpd to 11M bpd for the week. Crude oil imports gained +0.86 bpd to 6.01M bpd in the week.