Plains All American revealed that CME Group will add Plains' Cushing Terminal as a delivery point to the NYMEX WTI Crude Oil Futures contract, offering market participants an additional outlet to utilize the delivery mechanism of the world's most liquid crude oil futures benchmark, the company said on Oct. 18.

The change will take effect November 8, 2021 for the February 2022 contract month, pending regulatory review.

Plains made its initial investment at Cushing, Oklahoma in the early 1990s and is currently one of the largest operators at the Cushing hub. Cushing, Oklahoma is one of the leading crude oil market hubs in North America, and Plains appreciates CME's recognition of Plains as one of the key liquidity points at the Cushing hub.

Plains' Cushing Terminal profile includes 27.2 million barrels of storage capacity; 23 pipeline connections (11 inbound and 12 outbound); 15 third-party terminal connections; and approximately 4.0 million barrels per day of average daily volume.