The Saudi's have said they are going to pump the maximum, then you have Iran coming back on line and the Russians pumping flat out. The supposed oil accord between all these countries never happened so there will be no decrease in oil production.
There may be a drop in oil stocks at places like Cushing but that happens as a matter of course and it is summer in the US which is the driving season. I wouldn't imagine any lack of stocks at Cushing and other places wont last long.
You also have the massive debt the inland fraccers have in the US. Lower world growth means lower oil use.
