The amount of crude oil in storage at Oklahoma’s Cushing Hub increased by 400,000 barrels in the past week, according to a new government report.
The U.S. Energy Information Administration reported Cushing’s current balance was 23 million barrels as of the week of August 1. It was an increase from the 22.6 million barrels recorded during the last week in July. It also represented a gain of 800,000 barrels from June 20, 2025. However, Cushing’s total is 7 million barrels lower than the 30.4 million barrels recorded the week of August 2, 2024.
The U.S. current total of 423.7 million barrels is 3 million barrels fewer than the 426.7 million barrels as of the week of July 25 of this year. Is is also 8.6 million lower than the total of 415.1 million barrels the week of Jue 20. Compared to a year ago when the U.S. total of crude oil stocks was 429.3 million barrels, the current holding is 5.6 million barrels less.