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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): November 28, 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 November 28, 2023, United States Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended October 31, 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: November 28, 2023 By: /s/ Stuart P. Crumbaugh
  Name: Stuart P. Crumbaugh
  Title: Chief Financial Officer

 

 

 

EX-99.1 2 tm2330722d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

United States Oil Fund, LP

Monthly Account Statement

For the Month Ended October 31, 2023

 

Statement of Income (Loss)      
Income        
Realized Trading Gain (Loss) on Commodity Futures   $ 1,664,507  
Realized Gain (Loss) on Swap Contracts     (25,422,976 )
Unrealized Gain (Loss) on Market Value of Commodity Futures     (111,452,337 )
Unrealized gain (loss) on Fair Value of Swap Contracts     (4,139 )
Dividend Income     1,364,635  
Interest Income     5,091,787  
ETF Transaction Fees     40,000  
Total Income (Loss)   $ (128,718,523 )
         
Expenses        
General Partner Management Fees   $ 606,120  
Professional Fees     193,568  
Brokerage Commissions     93,040  
Directors' Fees and insurance     50,514  
License fees     20,204  
Total Expenses   $ 963,446  
Net Income (Loss)   $ (129,681,969 )

 

Statement of Changes in Net Asset Value      
Net Asset Value Beginning of Month 10/1/23   $ 1,528,040,870  
Additions (15,200,000 Shares)     1,179,820,388  
Withdrawals (10,600,000 Shares)     (818,858,218 )
Net Income (Loss)     (129,681,969 )
         
Net Asset Value End of Month   $ 1,759,321,071  
Net Asset Value Per Share (23,523,603 Shares)   $ 74.79  

 

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 October 31, 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