Crude oil in storage at the Cushing hub in northern Oklahoma held steady in the past week.
The U.S. Energy Information Administration reported a total of 25 million barrels of oil were stored at the Cushing hub as of Dec. 23, 2022, the latest reporting period.
It was down from the 25.2 million recorded as of Dec. 16, 2022 but still more than the 24.4 million barrels in storage on Dec. 9, 2022. On Dec. 2 of this year, Cushing held a reported 23.9 million barrels of crude oil according to the latest EIA report.
The 25 million recorded as of Dec. 23 compared to 25.6 million barrels stored at Cushing as of Nov. 11. It was still below the 34.7 million barrels in storage on Christmas Eve of 2021.