Crude oil stocks in the Cushing Hub of Oklahoma and across the U.S. declined in the past week, according to new figures released by the U.S. Energy Information Administration.
Cushing’s total stocks declined from 31.7 million barrels on March 1 to 31.5 million barrels as of March 8, the most recent reporting date. Cushing held 28.1 million barrels as of the end of January, according to the EIA.
Nationally, stocks declined 1.5 million barrels from 448.5 million on March 1 to 447 million barrels on March 8 of this year. At the end of January, the U.S. crude stocks totaled 421.9 million barrels.
