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FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation of USO's securities (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023
--- | --- | ---
Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | $ 327,450,000 | $ 327,450,000
Exchange-Traded Futures Contracts | Swap | OTC |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | (2,224) | (1,906)
Exchange-Traded Futures Contracts | United States Contracts |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 53,240,170 | 3,051,930
Level 1 | Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 327,450,000 | 327,450,000
Level 1 | Exchange-Traded Futures Contracts | Swap | OTC |  |
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 | 53,240,170 | 3,051,930
Level 2 | Short-Term Investments |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 | 0
Level 2 | Exchange-Traded Futures Contracts | Swap | OTC |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | (2,224) | (1,906)
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 | OTC |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | 0 | 0
Level 3 | Exchange-Traded Futures Contracts | United States Contracts |  |
FAIR VALUE OF FINANCIAL INSTRUMENTS |  |
Securities fair value | $ 0 | $ 0

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