Cushing oil storage drops by 11M barrels since May, Mario Nawfal warns

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Parshwa Turakhiya

3 hours ago

Cushing oil storage drops by 11M barrels since May, Mario Nawfal warns — Cushing oil storage falling rapidly

Mario Nawfal, founder & CEO at IBC Group, reports that oil storage tanks in Cushing are running dangerously low, with levels down about 11M barrels since early May and projected to reach tank bottoms by mid-July.

Drone data from Kpler shows some operators already close to empty, while exports remain steady and demand is strong.

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Nawfal has previously highlighted major shifts in the financial landscape. He reported that Elon Musk’s net worth surged by $164.8 billion in one day, surpassing Warren Buffett's lifetime fortune. In a separate post, Nawfal noted that a SpaceX IPO filing sent Redwire shares up 26% and boosted other space sector stocks.

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