After rebounding with an increase of crude oil in late December, the amount of crude held in storage at the Cushing hub fell again as of January 7 reported the federal government.
A report from the U.S. Energy Information Administration showed the amount of crude stored in Cushing fell to 34,838,000 barrels of oil. It had risen to 37,306,000 barrels as of December 31 but slipped more than 2 million barrels since Christmas Eve.
Unofficial reports claim the storage capacity at the Cushing hub is around 76.6 million barrels.
