Cushing Stocks Scrape Bottom as US Exports Climb

摘要

Inventories at the key oil storage, transit and pricing hub in Cushing, Oklahoma remain stretched, with scant volumes available to enter the market even as prices signal a need for more crude. According to the US Energy Information Administration (EIA), crude stocks at the Nymex pricing point of Cushing ended the week ended Mar. 4 at 24 million barrels. Estimates of the minimum volumes held at Cushing to maintain operations vary, but several experts have said that current inventories at the hub available to the market are less than 10 million bbl above that mark.