Crude oil storage at the Cushing hub in Oklahoma was up slightly as of May 27 reported the U.S. Energy Information Administration.
The weekly petroleum report by the EIA showed Cushing held 25 million barrels of crude oil in storage compared to 24.8 million as of May 20 of this year. The highest amount in storage during the month of May was May 6 when Cushing held 28,242,000 barrels of oil.
It compared to the 34,838,000 million barrels held in storage at the start of 2022. At the start of 2021, there were more than 59 million barrels of crude oil held at Cushing.
