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UNITED STATES

SECURITIES AND EXCHANGE COMMISION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): October 27, 2023

 

UNITED STATES OIL FUND, LP

(Exact name of registrant as specified in its charter)

 

Delaware 001-32834 20-2830691
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation)   Identification No.)
     
  1850 Mt. Diablo Boulevard, Suite 640  
Walnut Creek, California 94596  
(510) 522-9600 (Address of principal executive offices) (Zip Code)  
Registrant's telephone number,
including area code		    

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which
registered:
Shares of United States Oil Fund, LP   USO   NYSE Arca, Inc.

 

 

 

 

 

  

Item 7.01. Regulation FD Disclosure.

 

On October 27, 2023, United States Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended September 30, 2023, which is presented in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required pursuant to Rule 4.22 under the Commodity Exchange Act. A copy of the monthly account statement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and also can be found on the Registrant’s website at www.uscfinvestments.com. The information furnished in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit 99.1

 

 

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  UNITED STATES OIL FUND, LP
  By: United States Commodity Funds LLC, its general partner
     
Date: October 27, 2023 By: /s/ Stuart P. Crumbaugh
  Name: Stuart P. Crumbaugh
  Title: Chief Financial Officer
       

 

 

 

Exhibit 99.1

 

United States Oil Fund, LP

Monthly Account Statement

For the Month Ended September 30, 2023

  

Statement of Income (Loss)    
Income     
Realized Trading Gain (Loss) on Commodity Futures  $101,972,523 
Realized Gain (Loss) on Swap Contracts   21,881,156 
Unrealized Gain (Loss) on Market Value of Commodity Futures   (18,977,873)
Unrealized gain (loss) on Fair Value of Swap Contracts   18 
Dividend Income   984,405 
Interest Income   4,785,009 
ETF Transaction Fees   38,000 
Total Income (Loss)  $110,683,238 
      
Expenses     
General Partner Management Fees  $544,764 
Professional Fees   184,073 
Brokerage Commissions   55,770 
Directors' Fees and insurance   53,236 
License fees   18,159 
Total Expenses  $856,002 
Net Income (Loss)  $109,827,236 

  

Statement of Changes in Net Asset Value    
Net Asset Value Beginning of Month 9/1/23  $1,496,812,802 
Additions (8,100,000 Shares)   647,813,564 
Withdrawals (9,100,000 Shares)   (726,412,732)
Net Income (Loss)   109,827,236 
      
Net Asset Value End of Month  $1,528,040,870 
Net Asset Value Per Share (18,923,603 Shares)  $80.75 

 

To the Limited Partners of United States Oil Fund, LP:

 

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended September 30, 2023 is accurate and complete.

 

/s/ Stuart P. Crumbaugh  

Stuart P. Crumbaugh

Chief Financial Officer

United States Commodity Funds LLC, General Partner of United States Oil Fund, LP

 

United States Commodity Funds LLC

1850 Mt. Diablo Boulevard, Suite 640

Walnut Creek, CA 94596

 

 

 

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Entity File Number 001-32834
Entity Registrant Name UNITED STATES OIL FUND, LP
Entity Central Index Key 0001327068
Entity Tax Identification Number 20-2830691
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 1850 Mt. Diablo Boulevard
Entity Address, Address Line Two Suite 640
Entity Address, City or Town Walnut Creek
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Title of 12(b) Security Shares of United States Oil Fund, LP
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