What is Cushing?
How is it important to us?
Cushing is a historical city in the oil and gas industry. It has been a critical point for traders given its role as a major delivery point of the US crude oil futures (the West Texas Intermediate (WTI) for example which prices are quoted on the New York Mercantile Exchange).
Oil was discovered at Cushing in March, 1912 by Tom Slick and C. B. Shaffer.
In 1919, the production accounted for 17% of U. S. production and 3% of world production.