United States Oil Fund receives green light to issue new shares

The United States Oil Fund LP, the largest U.S. oil-focused exchange-traded product, stated on Friday in a regulatory filing that it has gained approval to resume offering new shares.

USO’s registration of 1 billion new shares has been declared effective by the Securities and Exchange Commission, the fund said, and hence it can once again allow authorized purchasers, or market makers for exchange-traded products, to issue new USO shares.

USO shares were little changed on Friday at $26.35.