Oil prices edged up slightly today on bigger than expected inventory draws and the ongoing slump in US crude output. “It’s a weather report all-around … Nobody was driving (last week). One big number is domestic production was down, and Bakken production took a big hit,” said Bob Yawger, director of energy futures at Mizuho. North Dakota officials have said it could take a month for oil output in the state, which includes the Bakken shale field and is the third biggest oil producing state, to recover after last week’s extreme weather cut production by more than half. Output fell from 13.3MM/bpd to a five month low of 12.3MM/bpd. Crude stockpiles were down 9.2MM/bbls, much higher than the 2.2MM/bbls expected. WTI traded up $.72 or 1% to close at $75.09. Brent traded up $.49 or .6% to close at $80.04.