US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%

Crude oil inventories at Cushing—home to a chunk of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.

Hart Energy Staff
US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%

For the week ending Sept. 10, crude oil inventories in Cushing totaled 32.9 million barrels, representing a 42% decrease since the beginning of the year, the EIA said. (Source: Hart Energy)

U.S. crude oil inventories at the Cushing storage hub in Oklahoma are down more than 40% from the start of 2021, according to recent findings by the Energy Information Administration (EIA).

Crude oil inventories at Cushing—the crude oil delivery point for the NYMEX WTI crude oil futures contract and home to 14% of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.

“The storage withdrawals in Cushing are consistent with high crude oil inventory withdrawals elsewhere in the United States and globally in recent months,” the EIA wrote in a Sept. 21 report.

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