Odaily reported, citing CNN, that inventories at Cushing, the U.S. crude oil delivery hub, are running low and are approaching operational limits. Cushing is identified in the report as a key crude oil delivery center in the United States, and its inventory level is being closely described in relation to storage capacity and delivery operations.
Inventories Drop to 21.6 Million Barrels
According to the latest data from the U.S. Energy Information Administration, local inventories at Cushing have fallen to 21.6 million barrels. That level is only slightly above the roughly 20 million-barrel operating warning line that is widely recognized within the industry.
The report noted that Cushing normally holds about 40 million barrels of crude oil, while its maximum storage capacity can reach 75 million barrels. The inventory decline comes as conflict in the Middle East continues to disrupt global energy supplies, placing the current Cushing stock level in a lower range compared with normal storage conditions.