Cushing hub sees increase in stored crude oil

No vacancy: Main U.S. oil storage in Cushing is spoken for | BOE Report


Despite an interruption of crude oil from Canada because of the Keystone pipeline leak in northern Kansas, the amount of oil increased in the past week at the Cushing hub in Oklahoma.

The U.S. Energy Information Administration reported the amount of crude oil in storage at Cushing increased from 24.4 million barrels on Dec. 9 to 25.2 million barrels as of Dec. 16, 2022. That represented a gain of 800,000 barrels of crude oil.

The new total compared to the 23.9 million barrels reported by the EIA on Dec. 2, 2022. It remained below the 27.2 million barrels reported on Nov. 4, 2022.

A year ago, the Cushing hub held an estimated 33.7 million barrels of crude, reported the EIA.