• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 15 mins Permafrost Melting Will Cost Us $70 Trillion
  • 3 hours California is the second biggest consumer of oil in the U.S. after Texas.
  • 29 mins Let's just get rid of the Jones Act once and for all
  • 19 hours At Kim-Putin Summit: Theater For Two
  • 19 hours NAFTA, a view from Mexico: 'Don't Shoot Yourself In The Foot'
  • 1 day UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 1 day How many drilling sites are left in the Permian?
  • 16 hours "Undeniable" Shale Slowdown?
  • 1 day New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 1 day Nothing Better than Li-Ion on the Horizon
  • 11 hours Liberal Heads Explode as U.S. Senate Confirms Oil Lobbyist David Bernhardt as Interior Secretary
  • 19 hours Gas Flaring
  • 1 day Russia To Start Deliveries Of S-400 To Turkey In July
Alt Text

Permian Oil Now Selling At A Discount

As the Permian continues to…

Alt Text

Investors Unconvinced By Halliburton’s Shale Optimism

Oilfield services firm Halliburton just…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Trending Discussions

Is The Glut Coming To An End? Cushing Stocks Fall To 10 Month Low

Inventory levels at the massive oil storage facility in Cushing, Oklahoma, have fallen to their lowest levels since December 2015, according to Wednesday’s data from the U.S. Energy Information Administration.

Cushing held 62.08 million barrels during the week ending 23 September—a 631,000-barrel loss at the site. The last time the EIA reported inventory levels that low at Cushing was the week ending 11 December, when it stood at 62.06 million barrels.

(Click to enlarge)

Inventories in Cushing are only a fraction of the U.S. total oil inventories, but they have long been used as a fairly good indicator of overall oil inventories in the United States. And despite five weeks of crude inventory draws overall, this week’s EIA report once again pointed out that oil supplies in the U.S. continue to be unusually high for the season.

The site’s crude inventories reached a high of 68.273 million barrels in the week ending on 13 May, 2016, according to EIA data. At maximum capacity, Cushing can hold 73 million barrels of oil.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News