Oil Terminal Storage Capacity Stands at 385.6 Million Barrels, U.S. Says
Crude oil storage capacity at U.S. terminals stood at 385.6 million barrels, the Energy Department said today in a report.
Capacity in Cushing, Oklahoma, the biggest U.S. trading hub, is 55 million barrels, according to the department. Working capacity, or the maximum amount of useable tanks considering space needed to keep some grades separate and coordinate pipeline shipments, is 45.9 million barrels.
Crude-oil inventories at Cushing, the delivery point for New York futures, rose 910,000 barrels to 34.5 million last week, the Energy Department said today. Supplies at the hub were at 75 percent of capacity, based on the working capacity.
The amount of U.S. crude oil storage that is leased out is 39 percent. At Cushing, the largest U.S. trading hub, 59 percent of the capacity is leased to others, according to the department.
Today’s report is the first to show capacities at terminals. The data will be released on a semi-annual basis, the Energy Department said.
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