The nation’s crude oil stocks surged in the most reporting period, jumping nearly 9 million barrels. Crude held at Oklahoma’s Cushing Hub declined a small amount.
The latest report from the U.S. Energy Information Administration update showed as of January 31, the nation’s total in crude oil was 423.8 million barrels, up 8.7 million barrels from the previous week of January 24, 2025. The most recent total is also 11.1 million barrels more than January 17 of this year. The latest total of 423.8 million compares to 427.4 million barrels in storage as of February 2, 2024.
The Cushing Hub in northern Oklahoma held 20.9 million barrels as of the most recent week ending January 31. It is a decline of 100,000 barrels from the 21 million barrels reported as of January 24, 2025 but 200,000 barrels more than January 17.
A year ago, Cushing held 28.1 million barrels compared to the 20.9 million in the most recent week.