Cushing hub continues slow decline of crude oil in storage

Is The Cushing Oil Hub Still Relevant? |


The Cushing oil hub in northern Oklahoma recorded another dip in the amount of crude oil in storage.

The U.S. Energy Information Administration reported Cushing held 24.3 million barrels of oil as of Nov. 25, down 400,000 barrels from the previous week.

The total was also the lowest for the month of November, a month that started with 27.2 million barrels of crude oil. It also compared to the 28.5 million barrels held at the Cushing oil hub as of Nov. 16, 2021.