Crude oil stocks across the U.S. and at the Cushing Hub in Oklahoma fell in the past week reported the U.S. Energy Information Administration.
Cushing’s stocks fell 100,000 barrels from 31.5 million on March 8 to 31.4 million on March 15. The total stored at the northern Oklahoma oil hub is still far more than 28.1 million barrels recorded by the EIA at the start of February.
A year ago, Cushing held 36.8 million barrels of crude oil in storage.
The U.S. amount of crude oil in storage as of March 15 was 445 million barrels, down 2 million barrels recorded a week earlier on March 8. The EIA said U.S. crude stocks totaled 427.4 million barrels at the start of February.
The U.S. total reported one year ago by the EIA was 481.2 million barrels.
