Crude oil supplies held at Oklahoma’s Cushing Hub fell 900,000 barrels this month, according to the U.S. Energy Information Administration.
The decline was from 420.7 million for the week ending August 15 to 418.3 million barrels the week ending August 22. The drop was even greater when compared to a year ago when the Cushing Hub held 27.5 million barrels of crude oil.
The U.S. decline in the past week totaled 2.4 million barrels, from 420.7 million barrels for the week ending August 15 to 418.3 million barrels for the week ending August 22.
The nation’s total in stored crude oil was nearly 7 million barrels compared to a year ago.
