The nation’s crude oil stocks fell again in the most reporting period and the Cushing Hub in northern Oklahoma was part of it.
The U.S. Energy Information Administration reported the nation’s crude stocks as of the week of Dec. 27, 2024 totaled 415.6 million barrels, a decline of 1.2 million barrels from the previous week. The U.S. crude stocks totaled 422 million barrels for the week ending Dec. 6 and since then the supply fell 6.4 million barrels.
The U.S, crude stocks as of last week were 15.5 million barrels below the 431.1 million barrels recorded at the end of December 2023.
The Cushing Hub held 22.5 million barrels as of the week of Dec. 27, a decline of about 200,000 barrels from the previous week of Dec. 20. Since Dec. 6, the Cushing Hub stocks fell 400,000 barrels, according to the EIA.
The most recent report of 22.5 million barrels held at Cushing is 2.2 million barrels less than Dec. 29, 2023.
