America’s Key Oil Hub Sees Inventories Declining ...Middle East

Cushing, the home of the ‘black gold rush’ and the world’s largest onshore oil storage hub is once again reducing its oil stockpiles as an increase in demand looks set to continue into 2021.  In November, reports suggested that oil was once again being stockpiled in Cushing, Oklahoma. Commercial stocks increased to 61.1 million barrels in mid-November, once again reaching April levels; when oil was experiencing its lowest demand. This figure stood at over 1 million more than the previous week and 39.3 percent higher than…

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