Global oil supply
fell in August
for the first
time in four months, the IEA said, a result of a dip in OPEC's oil production, combined with refinery
maintenance and sizable outages from Hurricane Harvey.
«The increase in gasoline demand meant that the refining industry delayed its semi-annual
maintenance period which meant that many mid-western and eastern refineries went into
maintenance mode at the same
time, meaning pump prices actually increased when crude was
falling,» explains Roger McKnight, Chief Petroleum Analyst
for En - Pro International Inc..