The Cushing hub in northern Oklahoma saw a slight increase in the amount of crude oil in storage in the past week as it reached a total of 33.6 million barrels.
The total compared to the 33.1 million barrels reported as of April 21 of this year according to the U.S. Energy Information Administration report issued on Wednesday.
Until last week, Cushing’s total amount of crude oil in storage had been declining. It was 32.8 million on April 14 and 36.8 million as of March 17. A year ago, Cushing held 28.8 million barrels.
The U.S. total of stored crude oil declined slightly over the past week, falling from 460.9 million barrels as of April 21 to 459.6 million barrels the week of April 28. On March 17, the U.S. total was 481.2 million barrels according to the EIA.