The Cushing hub continues in its declining amount of crude oil in storage.
The U.S. Energy Information Administration on Wednesday reported the latest total in storage as of December 2 is 23.9 million barrels, a drop of 400,000 barrels from Nov 25, 2022.
As of late October, the hub held 28.2 million barrels of crude oil. Since then, the amount in storage began a continuing decline, falling 100,000 barrels on Nov 4; 1.6 million barrels on Nov. 11 and 900,000 barrels on Nov 18, 2022.
