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Energy Information Administration: US oil stocks in Cushing fell to the lowest level since March 2020

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Wednesday, May 26, 2021 - 19:00
Point Trader Group
Energy Information Administration: US oil stocks in Cushing fell to the lowest level since March 2020

Data from the Energy Information Administration showed Wednesday, May 26, that US crude oil stocks at the storage hub in Cushing, Oklahoma, fell last week to their lowest level since March 2020.

The government agency added that crude stocks in Cushing fell to 44.8 million barrels. On the other hand, the operating rates of refineries in the United States rose last week to 87%, the highest level since March 2020.

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