Cushing crude stocks sit less than 2 mmbbls above operational floor amid global supply crisis (opens original article in a new tab)

Cushing crude storage levels are nearing their operational floor due to global supply disruptions, with inventories dropping to less than 25 mmbbls and potential for further declines.

• Cushing crude storage levels have dropped to less than 25 mmbbls, with inventories less than 2 mmbbls above the operational floor.
• Global supply disruptions, particularly from the Middle East conflict, have driven rapid Cushing storage draws and increased US crude exports and refinery runs.
• Cushing storage capacity utilization fell below 29%, nearing the operational floor, with potential for reaching it within one to two weeks if draws continue.