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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): September 29, 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 September 29, 2023, United States Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended August 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: September 29, 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 August 31, 2023

 

Statement of Income (Loss)    
Income     
Realized Trading Gain (Loss) on Commodity Futures  $72,292,114 
Realized Gain (Loss) on Swap Contracts   7,023,647 
Unrealized Gain (Loss) on Market Value of Commodity Futures   (52,409,114)
Unrealized gain (loss) on Fair Value of Swap Contracts   (50)
Dividend Income   1,233,753 
Interest Income   4,682,664 
ETF Transaction Fees   33,000 
Total Income (Loss)  $32,856,014 
      
Expenses     
General Partner Management Fees  $549,153 
Professional Fees   183,492 
Brokerage Commissions   55,762 
Directors' Fees and insurance   65,490 
License fees   18,305 
Total Expenses  $872,202 
Net Income (Loss)  $31,983,812 

 

Statement of Changes in Net Asset Value    
Net Asset Value Beginning of Month 8/1/23  $1,479,178,861 
Additions (8,300,000 Shares)   611,867,254 
Withdrawals (8,600,000 Shares)   (626,217,125)
Net Income (Loss)   31,983,812 
      
Net Asset Value End of Month  $1,496,812,802 
Net Asset Value Per Share (19,923,603 Shares)  $75.13 

 

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 August 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  

 

 

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Sep. 29, 2023
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Document Period End Date Sep. 29, 2023
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
Entity Address, State or Province CA
Entity Address, Postal Zip Code 94596
City Area Code 510
Local Phone Number 522-9600
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Title of 12(b) Security Shares of United States Oil Fund, LP
Trading Symbol USO
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