United States Oil Fund, LP cash flow, quarter by quarter
Latest: Q2 2026 · from the cash-flow statements filed with the SEC
Free cash flow$277M in Q2 2026 · $832M over twelve months
Operating cash flow$277M
Free cash flow+$277M
Analysis
In Q2 2026, United States Oil Fund, LP generated $277M of operating cash flow. That is $247M more than in Q2 2025 ($30.4M).
Over the twelve months to Jun 30, 2026, operating cash flow was $832M; besides operations, cash came from other financing ($83.6M); the cash balance rose by $915M.
Operating cash flow was $277M against net income of −$365M. The largest differences: gains on investments −$271M.
Free cash flow
Operating cash flow less capital spending.Latest (Q2 2026): Operating cash flow $277M, Capital spending $0.
Capital allocation, year by year
Over these 5 years operating cash flow totalled $2.9B; the largest uses were operating cash flow ($34.7M). Cash-flow statements as filed.
Cash runway and the debt wall
Cash & investments$1.3B
Debtnone
Net cash$1.3B
United States Oil Fund, LP funds itself: free cash flow was $832M over the last twelve months, with $1.3B of cash and investments and no debt on the balance sheet.
Where the cash came from and went
From profit to cash
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
Every quarter
Quarter
Operating cash flow
Cash drawn (+) / kept (−)
Free cash flow
Q2 2026
$277M
$122M
$277M
Q1 2026
$632M
−$1.4B
$632M
Q4 2025
−$50.0M
$7.9M
−$50.0M
Q3 2025
−$27.3M
$362M
−$27.3M
Q2 2025
$30.4M
−$260M
$30.4M
Q1 2025
$25.1M
$4.4M
$25.1M
Q4 2024
$53.9M
$398M
$53.9M
Q3 2024
−$71.2M
−$243M
−$71.2M
United States Oil Fund, LP: income statement and cash flow
United States Oil Fund, LP, Q1 2026: revenue $986M (23× year over year), operating margin 99.7%. The chart follows the revenue to costs, profit and cash.
Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.