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FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation of USO's securities (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022
--- | --- | ---
Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | $ 496,450,000 | $ 856,400,000
Exchange-Traded Futures Contracts | Swap |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | (1,850) |
Exchange-Traded Futures Contracts | Swap | OTC |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value |  | (4,145)
Exchange-Traded Futures Contracts | United States Contracts |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | (18,107,617) | 22,185,936
Level 1 | Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 496,450,000 | 856,400,000
Level 1 | Exchange-Traded Futures Contracts | Swap |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 |
Level 1 | Exchange-Traded Futures Contracts | United States Contracts |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | (18,107,617) | 22,185,936
Level 2 | Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 | 0
Level 2 | Exchange-Traded Futures Contracts | Swap |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | (1,850) |
Level 2 | Exchange-Traded Futures Contracts | Swap | OTC |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value |  | (4,145)
Level 2 | Exchange-Traded Futures Contracts | United States Contracts |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 | 0
Level 3 | Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 | 0
Level 3 | Exchange-Traded Futures Contracts | Swap |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 |
Level 3 | Exchange-Traded Futures Contracts | Swap | OTC |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value |  | 0
Level 3 | Exchange-Traded Futures Contracts | United States Contracts |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | $ 0 | $ 0

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