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Industry News
Cushing oil storage levels close to maxing out

About 81%, or 61.6 million barrels, of oil storage capacity at the Cushing, Okla., hub was filled as of Nov. 13, US government data shows, as supply continues to outpace demand, pushing inventories closer to the record levels seen in May. Renewed coronavirus restrictions are eroding demand for crude oil and may soon force traders to turn to other storage options such as ships and pipelines.

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