Rising U.S. oil consumption this year has led to crude oil inventories in Cushing, Oklahoma, dropping by as much as 42 percent so far this year, the Energy Information Administration (EIA) said on Tuesday. In the week ending September 10, crude oil stocks at Cushing were at 32.9 million barrels, excluding pipeline fill and stocks in transit by water and rail.
This level means that crude inventories at the hub, which is the crude oil delivery point for the WTI Crude futures contract, have declined by 42 percent since the beginning of 2021. Inventories…Crude Stocks At Cushing Have Dropped By 42% So Far This Year
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