Us cushing crude oil storage

How much oil is stored at Cushing Oklahoma?

As of March 13, crude oil storage at Cushing, Oklahoma, reached 54.4 million barrels according to EIA's Weekly Petroleum Status Report. This volume is the highest on record, but not the highest percent of storage utilization, as working storage capacity at Cushing has also increased over time.

What percentage of crude oil is stored in Cushing?

Cushing, Oklahoma, has about 19% of all commercial crude oil storage in the United States, with a total storage capacity of 70.8 million barrels. This represents more than 60% of all crude oil working storage capacity in the Midwest.

How much crude oil is in Cushing?

The government’s latest report shows crude oil storage at the Cushing hub in Oklahoma continued to drop after a slight gain from two weeks ago. The U.S. Energy Information Administration reported that as of August 26, Cushing maintained a total of 25,284,000 barrels of crude oil in storage.

Why did oil prices fall at Cushing?

U.S crude inventories at the country's flagship storage hub in Cushing, Oklahoma, fell to their lowest in over a decade amid strong refining activity and a year-end tax measure, data from the government's energy statistics arm showed on Wednesday. Stocks of oil at Cushing fell by 2.5 million barrels last week to about 20 million

How much oil is stored at the Cushing hub in 2022?

The highest total held at the Cushing hub in 2022 was 34,838,000 million barrels recorded on January 7. The government's latest report shows crude oil storage at the Cushing hub in Oklahoma continued to drop after a slight gain from two weeks ago.

What happened to Cushing Oil?

The fall was also the largest since August 2013. Tank storage of below 20 million barrels, or between 10% and 20% of Cushing’s about 98 million barrels of capacity, is considered close to operational lows, according to traders. Below those levels the oil is difficult to remove.