SEC Info - United States Oil Fund, LP - ‘10-K’ for 12/31/23

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United States Oil Fund, LP – ‘10-K’ for 12/31/23 – ‘EX-101.LAB’

On: Thursday, 2/29/24, at 5:22pm ET · For: 12/31/23 · Accession #: 1410578-24-108 · File #: 1-32834

Previous ‘10-K’: ‘10-K’ on 2/27/23 for 12/31/22 · Latest ‘10-K’: This Filing · 21 References:

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/29/24  United States Oil Fund, LP        10-K       12/31/23   53:6.6M                                   Toppan Merrill/FA2

Annual Report — Form 10-K — SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.06M 
 2: EX-23.1     Consent of Expert or Counsel                        HTML     16K 
 7: EX-97.1     Clawback Policy re: Recovery of Erroneously         HTML     35K 
                Awarded Compensation                                             
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     22K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     22K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     19K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     19K 
13: R1          Document And Entity Information                     HTML     87K 
14: R2          Condensed Statements of Financial Condition         HTML     93K 
15: R3          Condensed Statements of Financial Condition         HTML     23K 
                (Parenthetical)                                                  
16: R4          Condensed Schedule of Investments                   HTML     98K 
17: R5          Condensed Schedule of Investments (Parenthetical)   HTML     34K 
18: R6          Condensed Statements of Operations                  HTML     84K 
19: R7          Condensed Statements of Changes in Partners'        HTML     39K 
                Capital                                                          
20: R8          Condensed Statements of Changes in Partners'        HTML     21K 
                Capital (Parenthetical)                                          
21: R9          Condensed Statements of Cash Flows                  HTML     86K 
22: R10         Organization and Business                           HTML     31K 
23: R11         Summary of Significant Accounting Policies          HTML     28K 
24: R12         Fees Paid by the Fund and Related Party             HTML     23K 
                Transactions                                                     
25: R13         Contracts and Agreements                            HTML     43K 
26: R14         Financial Instruments, Off-Balance Sheet Risks and  HTML     45K 
                Contingencies                                                    
27: R15         Financial Highlights                                HTML     63K 
28: R16         Quarterly Financial Data (Unaudited)                HTML     68K 
29: R17         Fair Value of Financial Instruments                 HTML    153K 
30: R18         Subsequent Events                                   HTML     19K 
31: R19         Summary of Significant Accounting Policies          HTML     56K 
                (Policies)                                                       
32: R20         Contracts and Agreements (Tables)                   HTML     31K 
33: R21         Financial Highlights (Tables)                       HTML     62K 
34: R22         Quarterly Financial Data (Tables)                   HTML     67K 
35: R23         Fair Value of Financial Instruments (Tables)        HTML    152K 
36: R24         Organization and Business (Details)                 HTML     55K 
37: R25         Summary of Significant Accounting Policies          HTML     28K 
                (Details)                                                        
38: R26         Fees Paid by the Fund and Related Party             HTML     33K 
                Transactions (Details)                                           
39: R27         Contracts and Agreements (Details)                  HTML     49K 
40: R28         Contracts and Agreements - Brokerage commission     HTML     23K 
                (Details)                                                        
41: R29         Financial Instruments, Off-Balance Sheet Risks and  HTML     38K 
                Contingencies (Details)                                          
42: R30         Financial Highlights (Details)                      HTML     34K 
43: R31         Quarterly Financial Data (Unaudited) (Detail)       HTML     43K 
44: R32         FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation of  HTML     32K 
                USO's securities (Details)                                       
45: R33         FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value    HTML     25K 
                of Derivative Instruments (Details)                              
46: R34         FAIR VALUE OF FINANCIAL INSTRUMENTS - Effect of     HTML     34K 
                Derivative Instruments on the Condensed Statements               
                of Operations (Details)                                          
47: R35         Pay vs Performance Disclosure                       HTML     30K 
48: R36         Insider Trading Arrangements                        HTML     26K 
50: XML         IDEA XML File -- Filing Summary                      XML     87K 
53: XML         XBRL Instance -- uso-20231231x10k_htm                XML   1.15M 
49: EXCEL       IDEA Workbook of Financial Report Info              XLSX     89K 
 9: EX-101.CAL  XBRL Calculations -- uso-20231231_cal                XML     84K 
10: EX-101.DEF  XBRL Definitions -- uso-20231231_def                 XML    313K 
11: EX-101.LAB  XBRL Labels -- uso-20231231_lab                      XML    721K 
12: EX-101.PRE  XBRL Presentations -- uso-20231231_pre               XML    547K 
 8: EX-101.SCH  XBRL Schema -- uso-20231231                          XSD    137K 
51: JSON        XBRL Instance as JSON Data -- MetaLinks              324±   468K 
52: ZIP         XBRL Zipped Folder -- 0001410578-24-000108-xbrl      Zip    648K

‘EX-101.LAB’ — XBRL Labels — uso-20231231_lab

This Exhibit is an XBRL File.

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<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/>

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<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentInformationTable_lbl" xml:lang="en-US"> Document Information [Table] </link:label>

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<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="dei_DocumentType"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US"> Document Type </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US"> Document Annual Report </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US"> Document Transition Report </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US"> Document Period End Date </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US"> Entity File Number </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US"> Entity Registrant Name </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US"> Entity Incorporation, State or Country Code </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US"> Entity Tax Identification Number </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US"> Entity Address, Address Line One </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US"> Entity Address, City or Town </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US"> Entity Address, State or Province </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US"> Entity Address, Postal Zip Code </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US"> City Area Code </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US"> Local Phone Number </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US"> Title of 12(b) Security </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US"> Trading Symbol </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US"> Security Exchange Name </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US"> Entity Well-known Seasoned Issuer </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US"> Entity Voluntary Filers </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US"> Entity Current Reporting Status </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US"> Entity Interactive Data Current </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US"> Entity Filer Category </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US"> Entity Small Business </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US"> Entity Emerging Growth Company </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFinStmtErrorCorrectionFlag" xlink:label="dei_DocumentFinStmtErrorCorrectionFlag"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFinStmtErrorCorrectionFlag" xlink:to="dei_DocumentFinStmtErrorCorrectionFlag_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFinStmtErrorCorrectionFlag_lbl" xml:lang="en-US"> Document Financial Statement Error Correction [Flag] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US"> Entity Shell Company </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US"> Entity Public Float </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US"> Entity Common Stock, Shares Outstanding </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US"> Entity Central Index Key </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US"> Current Fiscal Year End Date </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US"> Document Fiscal Year Focus </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US"> Document Fiscal Period Focus </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US"> Amendment Flag </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_IcfrAuditorAttestationFlag" xlink:label="dei_IcfrAuditorAttestationFlag"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_IcfrAuditorAttestationFlag" xlink:to="dei_IcfrAuditorAttestationFlag_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_IcfrAuditorAttestationFlag_lbl" xml:lang="en-US"> ICFR Auditor Attestation Flag </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorName" xlink:label="dei_AuditorName"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorName_lbl" xml:lang="en-US"> Auditor Name </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorFirmId" xlink:label="dei_AuditorFirmId"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorFirmId" xlink:to="dei_AuditorFirmId_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorFirmId_lbl" xml:lang="en-US"> Auditor Firm ID </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditorLocation" xlink:label="dei_AuditorLocation"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditorLocation_lbl" xml:lang="en-US"> Auditor Location </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US"> Condensed Statements of Financial Condition </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US"> Statement [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US"> Statement [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US"> Statement [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US"> Statement </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US"> Assets [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US"> Assets </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US"> Cash and Cash Equivalents, at Carrying Value </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US"> Cash and cash equivalents </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US"> Cash and cash equivalents (at cost $952,408,574 and $856,400,000, respectively) (Notes 2 and 5) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract" xlink:to="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract_lbl" xml:lang="en-US"> Financial Instruments, Owned, at Fair Value [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract_lbl" xml:lang="en-US"> Equity in trading accounts: </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts" xlink:label="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts" xlink:to="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts_lbl" xml:lang="en-US"> Amount Relating to equity in trading accounts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts_lbl" xml:lang="en-US"> Cash And Cash Equivalents At Carrying Value In Equity In Trading Accounts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts_lbl" xml:lang="en-US"> Cash and cash equivalents (at cost $511,287,941 and $1,097,496,501, respectively) </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_CashAndCashEquivalentsAtCarryingValueInEquityInTradingAccounts_lbl" xml:lang="en-US"> Cash and cash equivalents </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_UnrealizedGainLossOnOpenCommodityFuturesContracts" xlink:label="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts" xlink:to="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US"> Amount of unrealized gain (loss) on open commodity futures contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US"> Unrealized Gain Loss On Open Commodity Futures Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US"> Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US"> Unrealized gain (loss) on open commodity futures contracts </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_UnrealizedGainLossOnOpenSwapContracts" xlink:label="uso_UnrealizedGainLossOnOpenSwapContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_UnrealizedGainLossOnOpenSwapContracts" xlink:to="uso_UnrealizedGainLossOnOpenSwapContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_UnrealizedGainLossOnOpenSwapContracts_lbl" xml:lang="en-US"> This element represents for unrealized gain (loss) on open swap contracts . </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_UnrealizedGainLossOnOpenSwapContracts_lbl" xml:lang="en-US"> Unrealized Gain (Loss) On Open Swap Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_UnrealizedGainLossOnOpenSwapContracts_lbl" xml:lang="en-US"> Unrealized gain (loss) on open swap contracts </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_ReceivableForSharesSold" xlink:label="uso_ReceivableForSharesSold"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_ReceivableForSharesSold" xlink:to="uso_ReceivableForSharesSold_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_ReceivableForSharesSold_lbl" xml:lang="en-US"> Carrying amount as of the balance sheet date of receivable for share sold. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_ReceivableForSharesSold_lbl" xml:lang="en-US"> Receivable For Shares Sold </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_ReceivableForSharesSold_lbl" xml:lang="en-US"> Receivable for shares sold </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsReceivable" xlink:label="us-gaap_DividendsReceivable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsReceivable" xlink:to="us-gaap_DividendsReceivable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsReceivable_lbl" xml:lang="en-US"> Dividends Receivable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DividendsReceivable_lbl" xml:lang="en-US"> Dividends receivable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestReceivable" xlink:label="us-gaap_InterestReceivable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestReceivable" xlink:to="us-gaap_InterestReceivable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestReceivable_lbl" xml:lang="en-US"> Interest Receivable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestReceivable_lbl" xml:lang="en-US"> Interest receivable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xml:lang="en-US"> Prepaid Expense </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xml:lang="en-US"> Prepaid insurance </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_EtfTransactionFeesReceivable" xlink:label="uso_EtfTransactionFeesReceivable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_EtfTransactionFeesReceivable" xlink:to="uso_EtfTransactionFeesReceivable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_EtfTransactionFeesReceivable_lbl" xml:lang="en-US"> Amount of transaction fees receivable by the company on Exchange-Traded Funds. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_EtfTransactionFeesReceivable_lbl" xml:lang="en-US"> ETF transaction fees receivable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_EtfTransactionFeesReceivable_lbl" xml:lang="en-US"> ETF transaction fees receivable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US"> Assets </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US"> Total Assets </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_LiabilitiesAndPartnersCapitalAbstract" xlink:label="uso_LiabilitiesAndPartnersCapitalAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_LiabilitiesAndPartnersCapitalAbstract" xlink:to="uso_LiabilitiesAndPartnersCapitalAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_LiabilitiesAndPartnersCapitalAbstract_lbl" xml:lang="en-US"> Liabilities And Partners Capital [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_LiabilitiesAndPartnersCapitalAbstract_lbl" xml:lang="en-US"> Liabilities And Partners Capital [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_LiabilitiesAndPartnersCapitalAbstract_lbl" xml:lang="en-US"> Liabilities and Partners' Capital </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DueToCorrespondentBrokers" xlink:label="us-gaap_DueToCorrespondentBrokers"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToCorrespondentBrokers" xlink:to="us-gaap_DueToCorrespondentBrokers_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueToCorrespondentBrokers_lbl" xml:lang="en-US"> Due to Correspondent Brokers </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DueToCorrespondentBrokers_lbl" xml:lang="en-US"> Payable due to Broker </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherLiabilities" xlink:label="us-gaap_OtherLiabilities"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilities" xlink:to="us-gaap_OtherLiabilities_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilities_lbl" xml:lang="en-US"> Due to Officers or Stockholders </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherLiabilities_lbl" xml:lang="en-US"> General Partner management fees payable (Note 3) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherLiabilityRelatedPartyTypeExtensibleEnumeration" xlink:label="us-gaap_OtherLiabilityRelatedPartyTypeExtensibleEnumeration"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilityRelatedPartyTypeExtensibleEnumeration" xlink:to="us-gaap_OtherLiabilityRelatedPartyTypeExtensibleEnumeration_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilityRelatedPartyTypeExtensibleEnumeration_lbl" xml:lang="en-US"> Other Liability, Related Party, Type [Extensible Enumeration] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xlink:label="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent_lbl" xml:lang="en-US"> Accrued Professional Fees </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent_lbl" xml:lang="en-US"> Professional fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_DueToCustody" xlink:label="uso_DueToCustody"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_DueToCustody" xlink:to="uso_DueToCustody_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_DueToCustody_lbl" xml:lang="en-US"> The due amount to custody as on the balance sheet date. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_DueToCustody_lbl" xml:lang="en-US"> Due To Custody </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_DueToCustody_lbl" xml:lang="en-US"> Due to custody </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xlink:label="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xlink:to="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US"> Commissions Payable to Broker-Dealers and Clearing Organizations </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US"> Brokerage commissions payable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ManagementFeePayable" xlink:label="us-gaap_ManagementFeePayable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeePayable" xlink:to="us-gaap_ManagementFeePayable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ManagementFeePayable_lbl" xml:lang="en-US"> Management Fee Payable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ManagementFeePayable_lbl" xml:lang="en-US"> Directors' fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_LicenseFeesPayableCurrentAndNoncurrent" xlink:label="uso_LicenseFeesPayableCurrentAndNoncurrent"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_LicenseFeesPayableCurrentAndNoncurrent" xlink:to="uso_LicenseFeesPayableCurrentAndNoncurrent_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_LicenseFeesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US"> The amount of license fees payable current and noncurrent. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_LicenseFeesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US"> License Fees Payable Current And Noncurrent </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_LicenseFeesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US"> License fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US"> Liabilities </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US"> Total Liabilities </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US"> Commitments and Contingencies </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US"> Commitments and Contingencies (Notes 3, 4 & 5) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAbstract" xlink:label="us-gaap_PartnersCapitalAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAbstract" xlink:to="us-gaap_PartnersCapitalAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAbstract_lbl" xml:lang="en-US"> Partners Capital [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAbstract_lbl" xml:lang="en-US"> Partners' Capital </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GeneralPartnersCapitalAccount" xlink:label="us-gaap_GeneralPartnersCapitalAccount"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralPartnersCapitalAccount" xlink:to="us-gaap_GeneralPartnersCapitalAccount_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralPartnersCapitalAccount_lbl" xml:lang="en-US"> General Partners Capital Account </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GeneralPartnersCapitalAccount_lbl" xml:lang="en-US"> General Partners </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnersCapitalAccount" xlink:label="us-gaap_LimitedPartnersCapitalAccount"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnersCapitalAccount" xlink:to="us-gaap_LimitedPartnersCapitalAccount_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnersCapitalAccount_lbl" xml:lang="en-US"> Limited Partners Capital Account </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnersCapitalAccount_lbl" xml:lang="en-US"> Limited Partners </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapital" xlink:label="us-gaap_PartnersCapital"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapital" xlink:to="us-gaap_PartnersCapital_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US"> Partners Capital </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US"> Balances at end of year </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US"> Balances at beginning of year </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US"> Total Partners' Capital </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US"> Liabilities And Stockholders Equity </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US"> Total Liabilities and Partners' Capital </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:to="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_lbl" xml:lang="en-US"> Limited Partners Capital Account Units Outstanding </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_lbl" xml:lang="en-US"> Limited Partners' shares outstanding </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NetAssetValuePerUnit" xlink:label="uso_NetAssetValuePerUnit"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NetAssetValuePerUnit" xlink:to="uso_NetAssetValuePerUnit_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NetAssetValuePerUnit_lbl" xml:lang="en-US"> Net asset value per share or per unit of investments in certain entities that calculate net asset value per share. Includes, but is not limited to, by unit, membership interest, or other ownership interest. Investment includes, but is not limited to, investment in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Excludes fair value disclosure. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NetAssetValuePerUnit_lbl" xml:lang="en-US"> Net Asset Value Per Unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="uso_NetAssetValuePerUnit_lbl" xml:lang="en-US"> Net asset value, end of year </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="uso_NetAssetValuePerUnit_lbl" xml:lang="en-US"> Net asset value, beginning of year </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_NetAssetValuePerUnit_lbl" xml:lang="en-US"> Net asset value per unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_NetAssetValuePerUnit_lbl" xml:lang="en-US"> Net asset value per share </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_MarketValuePerUnit" xlink:label="uso_MarketValuePerUnit"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_MarketValuePerUnit" xlink:to="uso_MarketValuePerUnit_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_MarketValuePerUnit_lbl" xml:lang="en-US"> Market value per unit. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_MarketValuePerUnit_lbl" xml:lang="en-US"> Market Value Per Unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_MarketValuePerUnit_lbl" xml:lang="en-US"> Market value per share </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_StatementScheduleOfInvestmentsAbstract" xlink:label="uso_StatementScheduleOfInvestmentsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_StatementScheduleOfInvestmentsAbstract" xlink:to="uso_StatementScheduleOfInvestmentsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_StatementScheduleOfInvestmentsAbstract_lbl" xml:lang="en-US"> Statement - Schedule of Investments [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_StatementScheduleOfInvestmentsAbstract_lbl" xml:lang="en-US"> Condensed Schedule of Investments </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentTypeAxis" xlink:label="us-gaap_InvestmentTypeAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeAxis" xlink:to="us-gaap_InvestmentTypeAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US"> Investment Type [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="us-gaap_InvestmentTypeCategorizationMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US"> Investment Type Categorization [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OpenCommodityFuturesContractsLongMember" xlink:label="uso_OpenCommodityFuturesContractsLongMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OpenCommodityFuturesContractsLongMember" xlink:to="uso_OpenCommodityFuturesContractsLongMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OpenCommodityFuturesContractsLongMember_lbl" xml:lang="en-US"> This member stands for open commodity futures contracts - long. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OpenCommodityFuturesContractsLongMember_lbl" xml:lang="en-US"> Open Commodity Futures Contracts - Long [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OpenCommodityFuturesContractsLongMember_lbl" xml:lang="en-US"> Open Commodity Futures Contracts - Long </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashEquivalentsMember" xlink:label="us-gaap_CashEquivalentsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashEquivalentsMember" xlink:to="us-gaap_CashEquivalentsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashEquivalentsMember_lbl" xml:lang="en-US"> Cash Equivalents </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashEquivalentsMember_lbl" xml:lang="en-US"> Cash Equivalents </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OpenFuturesContractsLongMember" xlink:label="uso_OpenFuturesContractsLongMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OpenFuturesContractsLongMember" xlink:to="uso_OpenFuturesContractsLongMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OpenFuturesContractsLongMember_lbl" xml:lang="en-US"> This member stands for information pertaining to open futures contracts, long. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OpenFuturesContractsLongMember_lbl" xml:lang="en-US"> Open Futures Contracts, Long [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OpenFuturesContractsLongMember_lbl" xml:lang="en-US"> Open Futures Contracts, Long </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OpenOtcCommoditySwapContractsMember" xlink:label="uso_OpenOtcCommoditySwapContractsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OpenOtcCommoditySwapContractsMember" xlink:to="uso_OpenOtcCommoditySwapContractsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OpenOtcCommoditySwapContractsMember_lbl" xml:lang="en-US"> Represents the information pertaining to Open OTC Commodity Swap Contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OpenOtcCommoditySwapContractsMember_lbl" xml:lang="en-US"> Open OTC Commodity Swap Contracts [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OpenOtcCommoditySwapContractsMember_lbl" xml:lang="en-US"> Open OTC Commodity Swap Contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_StatementGeographicalAxis" xlink:label="srt_StatementGeographicalAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US"> Geographical [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_SegmentGeographicalDomain" xlink:label="srt_SegmentGeographicalDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US"> Geographical [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_US" xlink:label="country_US"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_US_lbl" xml:lang="en-US"> UNITED STATES </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_US_lbl" xml:lang="en-US"> UNITED STATES </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="country_US_lbl" xml:lang="en-US"> United States Contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xml:lang="en-US"> Financial Instrument [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US"> Financial Instruments [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member" xlink:label="uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member" xlink:to="uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" xml:lang="en-US"> The member stands for NYMEX WTI Crude Oil Futures CL February 2024 contracts, expiring January 2024. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL February 2024 contracts, expiring January 2024 [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL February 2024 contracts, expiring January 2024 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member" xlink:label="uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member" xlink:to="uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" xml:lang="en-US"> The member stands for NYMEX WTI Crude Oil Futures CL March 2024 contracts, expiring February 2024. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL March 2024 contracts, expiring February 2024 [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL March 2024 contracts, expiring February 2024 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesFebruary2022ContractsExpiringJanuary2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesFebruary2022ContractsExpiringJanuary2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesFebruary2022ContractsExpiringJanuary2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesFebruary2022ContractsExpiringJanuary2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesFebruary2022ContractsExpiringJanuary2022Member_lbl" xml:lang="en-US"> The member stands for NYMEX WTI Crude Oil Futures February 2022 contracts, expiring January 2022. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesFebruary2022ContractsExpiringJanuary2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL February 2023 contracts, expiring January 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesMarch2022ContractsExpiringFebruary2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesMarch2022ContractsExpiringFebruary2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesMarch2022ContractsExpiringFebruary2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesMarch2022ContractsExpiringFebruary2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesMarch2022ContractsExpiringFebruary2022Member_lbl" xml:lang="en-US"> The member stands for NYMEX WTI Crude Oil Futures March 2022 contracts, expiring February 2022. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesMarch2022ContractsExpiringFebruary2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL March 2023 contracts, expiring February 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesApril2022ContractsExpiringMarch2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesApril2022ContractsExpiringMarch2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesApril2022ContractsExpiringMarch2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesApril2022ContractsExpiringMarch2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesApril2022ContractsExpiringMarch2022Member_lbl" xml:lang="en-US"> The member stands for NYMEX WTI Crude Oil Futures April 2022 contracts, expiring March 2022. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesApril2022ContractsExpiringMarch2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL April 2023 contracts, expiring March 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesMay2022ContractsExpiringApril2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesMay2022ContractsExpiringApril2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesMay2022ContractsExpiringApril2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesMay2022ContractsExpiringApril2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesMay2022ContractsExpiringApril2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures May 2022 Contracts Expiring April 2022. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesMay2022ContractsExpiringApril2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL May 2023 contracts, expiring April 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesJune2022ContractsExpiringMay2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesJune2022ContractsExpiringMay2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesJune2022ContractsExpiringMay2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesJune2022ContractsExpiringMay2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesJune2022ContractsExpiringMay2022Member_lbl" xml:lang="en-US"> This member stands for NYMEX WTI Crude Oil Futures June 2022 contracts, expiring May 2022. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesJune2022ContractsExpiringMay2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL June 2023 contracts, expiring May 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesJuly2022ContractsExpiringJune2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesJuly2022ContractsExpiringJune2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesJuly2022ContractsExpiringJune2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesJuly2022ContractsExpiringJune2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesJuly2022ContractsExpiringJune2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures July 2022 Contracts Expiring June2022 </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesJuly2022ContractsExpiringJune2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL July 2023 contracts, expiring June 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NymexWtiCrudeOilFuturesDecember2022ContractsExpiringNovember2022Member" xlink:label="uso_NymexWtiCrudeOilFuturesDecember2022ContractsExpiringNovember2022Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NymexWtiCrudeOilFuturesDecember2022ContractsExpiringNovember2022Member" xlink:to="uso_NymexWtiCrudeOilFuturesDecember2022ContractsExpiringNovember2022Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NymexWtiCrudeOilFuturesDecember2022ContractsExpiringNovember2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures December 2022 Contracts Expiring November 2022 </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NymexWtiCrudeOilFuturesDecember2022ContractsExpiringNovember2022Member_lbl" xml:lang="en-US"> NYMEX WTI Crude Oil Futures CL December 2023 contracts, expiring November 2023 </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsAxis" xlink:label="us-gaap_CashAndCashEquivalentsAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAxis" xlink:to="us-gaap_CashAndCashEquivalentsAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAxis_lbl" xml:lang="en-US"> Cash and Cash Equivalents [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" xml:lang="en-US"> Cash and Cash Equivalents [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="us-gaap_MoneyMarketFundsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsMember" xlink:to="us-gaap_MoneyMarketFundsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US"> United States Money Market Funds </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US"> United States Money Market Funds </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_lbl" xml:lang="en-US"> Investment, Name [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="srt_EquityMethodInvesteeNameDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_EquityMethodInvesteeNameDomain" xlink:to="srt_EquityMethodInvesteeNameDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_EquityMethodInvesteeNameDomain_lbl" xml:lang="en-US"> Investment, Name [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember" xlink:label="uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember" xlink:to="uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember_lbl" xml:lang="en-US"> Morgan Stanley Institutional Liquidity Fund Government Portfolio [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember_lbl" xml:lang="en-US"> Morgan Stanley Institutional Liquidity Fund Government Portfolio [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_MorganStanleyInstitutionalLiquidityFundGovernmentPortfolioMember_lbl" xml:lang="en-US"> Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Shares, 4.12%# </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_CounterpartyNameAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CounterpartyNameAxis_lbl" xml:lang="en-US"> Counterparty Name [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xml:lang="en-US"> Counterparty Name [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_MacquarieBankLtdMember" xlink:label="uso_MacquarieBankLtdMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_MacquarieBankLtdMember" xlink:to="uso_MacquarieBankLtdMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_MacquarieBankLtdMember_lbl" xml:lang="en-US"> This member stands for Macquarie Bank Ltd. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_MacquarieBankLtdMember_lbl" xml:lang="en-US"> Macquarie Bank Ltd. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_MacquarieBankLtdMember_lbl" xml:lang="en-US"> Macquarie Bank Ltd. </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_SocieteGeneraleMember" xlink:label="uso_SocieteGeneraleMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_SocieteGeneraleMember" xlink:to="uso_SocieteGeneraleMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_SocieteGeneraleMember_lbl" xml:lang="en-US"> This member stands for Societe Generale. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_SocieteGeneraleMember_lbl" xml:lang="en-US"> Societe Generale </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_SocieteGeneraleMember_lbl" xml:lang="en-US"> Societe Generale </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransactionTypeAxis" xlink:label="us-gaap_TransactionTypeAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransactionTypeAxis" xlink:to="us-gaap_TransactionTypeAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransactionTypeAxis_lbl" xml:lang="en-US"> Transaction Type [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransactionDomain" xlink:label="us-gaap_TransactionDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransactionDomain" xlink:to="us-gaap_TransactionDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransactionDomain_lbl" xml:lang="en-US"> Transaction [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ExchangeTradedMember" xlink:label="us-gaap_ExchangeTradedMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExchangeTradedMember" xlink:to="us-gaap_ExchangeTradedMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExchangeTradedMember_lbl" xml:lang="en-US"> Exchange Traded [Member] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_MacquarieMqcp361e01192024indexMember" xlink:label="uso_MacquarieMqcp361e01192024indexMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_MacquarieMqcp361e01192024indexMember" xlink:to="uso_MacquarieMqcp361e01192024indexMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_MacquarieMqcp361e01192024indexMember_lbl" xml:lang="en-US"> This member stands for MACQUARIE MQCP361E 01192024Index. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_MacquarieMqcp361e01192024indexMember_lbl" xml:lang="en-US"> MACQUARIE MQCP361E 01192024Index [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_MacquarieMqcp361e01192024indexMember_lbl" xml:lang="en-US"> MACQUARIE MQCP361E 01192024Index </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_SocGenSgixcwti12292023indexMember" xlink:label="uso_SocGenSgixcwti12292023indexMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_SocGenSgixcwti12292023indexMember" xlink:to="uso_SocGenSgixcwti12292023indexMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_SocGenSgixcwti12292023indexMember_lbl" xml:lang="en-US"> This member stands for SOC GEN SGIXCWTI 12292023Index. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_SocGenSgixcwti12292023indexMember_lbl" xml:lang="en-US"> SOC GEN SGIXCWTI 12292023Index [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_SocGenSgixcwti12292023indexMember_lbl" xml:lang="en-US"> SOC GEN SGIXCWTI 12292023Index </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_Mqcp361eIndexMember" xlink:label="uso_Mqcp361eIndexMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_Mqcp361eIndexMember" xlink:to="uso_Mqcp361eIndexMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_Mqcp361eIndexMember_lbl" xml:lang="en-US"> This member stands for MQCP361E Index. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_Mqcp361eIndexMember_lbl" xml:lang="en-US"> MQCP361E Index </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_Mqcp361eIndexMember_lbl" xml:lang="en-US"> MQCP361E Index </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_SgixcwtiIndexMember" xlink:label="uso_SgixcwtiIndexMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_SgixcwtiIndexMember" xlink:to="uso_SgixcwtiIndexMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_SgixcwtiIndexMember_lbl" xml:lang="en-US"> This member stands for SGIXCWTI Index. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_SgixcwtiIndexMember_lbl" xml:lang="en-US"> SGIXCWTI Index </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_SgixcwtiIndexMember_lbl" xml:lang="en-US"> SGIXCWTI Index </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="us-gaap_InvestmentOwnedAtFairValue"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedAtFairValue" xlink:to="us-gaap_InvestmentOwnedAtFairValue_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedAtFairValue_lbl" xml:lang="en-US"> Investment Owned, at Fair Value </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentOwnedAtFairValue_lbl" xml:lang="en-US"> Notional Amount </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedBalanceContracts" xlink:label="us-gaap_InvestmentOwnedBalanceContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedBalanceContracts" xlink:to="us-gaap_InvestmentOwnedBalanceContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedBalanceContracts_lbl" xml:lang="en-US"> Investment Owned Balance Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedBalanceContracts_lbl" xml:lang="en-US"> Number of Contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:to="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xml:lang="en-US"> Investment Owned Balance Principal Amount </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xml:lang="en-US"> Shares/Principal Amount </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:to="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" xml:lang="en-US"> Investment Owned Underlying Face Amount At Market Value </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" xml:lang="en-US"> Market Value </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfPartnersCapital" xlink:label="uso_PercentageOfPartnersCapital"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfPartnersCapital" xlink:to="uso_PercentageOfPartnersCapital_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfPartnersCapital_lbl" xml:lang="en-US"> Percentage of partners capital. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfPartnersCapital_lbl" xml:lang="en-US"> Percentage Of Partners Capital </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_PercentageOfPartnersCapital_lbl" xml:lang="en-US"> % of Partners' Capital </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfFundPaysCounterparty" xlink:label="uso_PercentageOfFundPaysCounterparty"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfFundPaysCounterparty" xlink:to="uso_PercentageOfFundPaysCounterparty_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfFundPaysCounterparty_lbl" xml:lang="en-US"> The percentage of fund pays counterparty. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfFundPaysCounterparty_lbl" xml:lang="en-US"> Percentage Of Fund Pays Counterparty </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_PercentageOfFundPaysCounterparty_lbl" xml:lang="en-US"> Percentage of Fund Pays Counterparty </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedAtCost" xlink:label="us-gaap_InvestmentOwnedAtCost"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedAtCost" xlink:to="us-gaap_InvestmentOwnedAtCost_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedAtCost_lbl" xml:lang="en-US"> Investment Owned, at Cost </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedAtCost_lbl" xml:lang="en-US"> Notional amount of Open OTC Commodity Swap Contracts </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FairValueOrOpenCommoditySwapContracts" xlink:label="uso_FairValueOrOpenCommoditySwapContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FairValueOrOpenCommoditySwapContracts" xlink:to="uso_FairValueOrOpenCommoditySwapContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FairValueOrOpenCommoditySwapContracts_lbl" xml:lang="en-US"> Amount of fair value or open commodity swap contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FairValueOrOpenCommoditySwapContracts_lbl" xml:lang="en-US"> Fair Value or Open Commodity Swap Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="uso_FairValueOrOpenCommoditySwapContracts_lbl" xml:lang="en-US"> Fair Value/Open Commodity Swap Contracts </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_UnrealizedGainLossOnCommoditySwapContracts" xlink:label="uso_UnrealizedGainLossOnCommoditySwapContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_UnrealizedGainLossOnCommoditySwapContracts" xlink:to="uso_UnrealizedGainLossOnCommoditySwapContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_UnrealizedGainLossOnCommoditySwapContracts_lbl" xml:lang="en-US"> Unrealized gain (loss) on commodity swap contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_UnrealizedGainLossOnCommoditySwapContracts_lbl" xml:lang="en-US"> Unrealized Gain Loss On Commodity Swap Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_UnrealizedGainLossOnCommoditySwapContracts_lbl" xml:lang="en-US"> Unrealized Gain (Loss) on Commodity Swap Contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeMaturityDates" xlink:label="us-gaap_DerivativeMaturityDates"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeMaturityDates" xlink:to="us-gaap_DerivativeMaturityDates_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeMaturityDates_lbl" xml:lang="en-US"> Investment Owned Subject To Option Exercise Dates </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeMaturityDates_lbl" xml:lang="en-US"> Expiration date </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CollateralAmountOnOpenFuturesContracts" xlink:label="uso_CollateralAmountOnOpenFuturesContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CollateralAmountOnOpenFuturesContracts" xlink:to="uso_CollateralAmountOnOpenFuturesContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CollateralAmountOnOpenFuturesContracts_lbl" xml:lang="en-US"> The amount of collateral amount on open futures contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CollateralAmountOnOpenFuturesContracts_lbl" xml:lang="en-US"> Collateral Amount On Open Futures Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_CollateralAmountOnOpenFuturesContracts_lbl" xml:lang="en-US"> Collateral amount on open futures contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentInterestRate" xlink:label="us-gaap_InvestmentInterestRate"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentInterestRate" xlink:to="us-gaap_InvestmentInterestRate_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentInterestRate_lbl" xml:lang="en-US"> Investment Interest Rate </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentInterestRate_lbl" xml:lang="en-US"> Investment interest rate </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_InvestmentOwnedPeriodOfYieldOnFunds" xlink:label="uso_InvestmentOwnedPeriodOfYieldOnFunds"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_InvestmentOwnedPeriodOfYieldOnFunds" xlink:to="uso_InvestmentOwnedPeriodOfYieldOnFunds_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_InvestmentOwnedPeriodOfYieldOnFunds_lbl" xml:lang="en-US"> Period of yield on funds. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_InvestmentOwnedPeriodOfYieldOnFunds_lbl" xml:lang="en-US"> Investment Owned, Period of Yield On Funds </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_InvestmentOwnedPeriodOfYieldOnFunds_lbl" xml:lang="en-US"> Investment, Period of Yield </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US"> Condensed Statements of Operations </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncomeAbstract" xlink:label="uso_IncomeAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncomeAbstract" xlink:to="uso_IncomeAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncomeAbstract_lbl" xml:lang="en-US"> Income [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncomeAbstract_lbl" xml:lang="en-US"> Income [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_IncomeAbstract_lbl" xml:lang="en-US"> Income </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_GainLossOnCommodityFuturesAbstract" xlink:label="uso_GainLossOnCommodityFuturesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_GainLossOnCommodityFuturesAbstract" xlink:to="uso_GainLossOnCommodityFuturesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_GainLossOnCommodityFuturesAbstract_lbl" xml:lang="en-US"> Gain (Loss) On Commodity Futures [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_GainLossOnCommodityFuturesAbstract_lbl" xml:lang="en-US"> Gain Loss On Commodity Futures [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_GainLossOnCommodityFuturesAbstract_lbl" xml:lang="en-US"> Gain (loss) on trading of commodity futures and swap contracts: </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnSaleOfInvestments" xlink:label="us-gaap_GainLossOnSaleOfInvestments"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfInvestments" xlink:to="us-gaap_GainLossOnSaleOfInvestments_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfInvestments_lbl" xml:lang="en-US"> Gain Loss On Sale Of Investments </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainLossOnSaleOfInvestments_lbl" xml:lang="en-US"> Realized gain (loss) on closed commodity futures contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:to="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xml:lang="en-US"> Gain (Loss) on Derivative Instruments, Net, Pretax </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainLossOnDerivativeInstrumentsNetPretax_lbl" xml:lang="en-US"> Realized gain (loss) on closed OTC commodity swap contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrealizedGainLossOnInvestments" xlink:label="us-gaap_UnrealizedGainLossOnInvestments"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnInvestments" xlink:to="us-gaap_UnrealizedGainLossOnInvestments_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnInvestments_lbl" xml:lang="en-US"> Unrealized Gain Loss On Investments </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnrealizedGainLossOnInvestments_lbl" xml:lang="en-US"> Change in unrealized gain (loss) on open commodity futures contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="us-gaap_UnrealizedGainLossOnDerivatives_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xml:lang="en-US"> Unrealized Gain (Loss) on Derivatives </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xml:lang="en-US"> Change in unrealized gain (loss) on open OTC commodity swap contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendIncomeOperating" xlink:label="us-gaap_DividendIncomeOperating"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendIncomeOperating" xlink:to="us-gaap_DividendIncomeOperating_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendIncomeOperating_lbl" xml:lang="en-US"> Dividend Income Operating </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DividendIncomeOperating_lbl" xml:lang="en-US"> Dividend income </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeOperating" xlink:label="us-gaap_InterestIncomeOperating"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeOperating" xlink:to="us-gaap_InterestIncomeOperating_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US"> Interest Income Operating </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US"> Interest income </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl" xml:lang="en-US"> Revenue from Contract with Customer, Including Assessed Tax </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl" xml:lang="en-US"> ETF transaction fees </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"> Revenues </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"> Total Income (Loss) </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"> Total Income (Loss) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US"> Operating Expenses [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US"> Expenses </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ManagementFeeExpense" xlink:label="us-gaap_ManagementFeeExpense"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeeExpense" xlink:to="us-gaap_ManagementFeeExpense_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ManagementFeeExpense_lbl" xml:lang="en-US"> Management Fee Expense </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ManagementFeeExpense_lbl" xml:lang="en-US"> General Partner management fees (Note 3) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalFees" xlink:to="us-gaap_ProfessionalFees_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US"> Professional Fees </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US"> Professional fees </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:to="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US"> Floor Brokerage Exchange And Clearance Fees </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US"> Brokerage commissions </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US"> Total commissions accrued to brokers </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoninterestExpenseDirectorsFees" xlink:label="us-gaap_NoninterestExpenseDirectorsFees"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestExpenseDirectorsFees" xlink:to="us-gaap_NoninterestExpenseDirectorsFees_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestExpenseDirectorsFees_lbl" xml:lang="en-US"> Noninterest Expense Directors Fees </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestExpenseDirectorsFees_lbl" xml:lang="en-US"> Fees and expenses </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NoninterestExpenseDirectorsFees_lbl" xml:lang="en-US"> Directors' fees and insurance </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OtherOfferingFee" xlink:label="uso_OtherOfferingFee"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OtherOfferingFee" xlink:to="uso_OtherOfferingFee_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OtherOfferingFee_lbl" xml:lang="en-US"> The amount of other offering fee. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OtherOfferingFee_lbl" xml:lang="en-US"> Other Offering Fee </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_OtherOfferingFee_lbl" xml:lang="en-US"> License fees </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_RegistrationFeesAndOtherOfferingExpenses" xlink:label="uso_RegistrationFeesAndOtherOfferingExpenses"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_RegistrationFeesAndOtherOfferingExpenses" xlink:to="uso_RegistrationFeesAndOtherOfferingExpenses_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_RegistrationFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US"> The amount of registration fees and other offering expenses. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_RegistrationFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US"> Registration Fees And Other Offering Expenses </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_RegistrationFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US"> Registration fees </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US"> Operating Expenses </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US"> Total Expenses </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US"> Total Expenses </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US"> Net Income (Loss) </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US"> Net income (loss) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xlink:label="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xlink:to="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax_lbl" xml:lang="en-US"> Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax_lbl" xml:lang="en-US"> Net Income (Loss) per Share </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax_lbl" xml:lang="en-US"> Net Income (Loss) per limited partner share </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" xlink:label="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" xlink:to="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted_lbl" xml:lang="en-US"> Net Income (Loss), Net of Tax, Per Outstanding Limited Partnership Unit, Diluted, Total </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted_lbl" xml:lang="en-US"> Net Income (Loss) per weighted average limited partner share </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xlink:label="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xlink:to="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_lbl" xml:lang="en-US"> Weighted Average Limited Partnership Units Outstanding </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_lbl" xml:lang="en-US"> Weighted average limited partner shares outstanding </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfPartnersCapitalAbstract" xlink:label="us-gaap_StatementOfPartnersCapitalAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfPartnersCapitalAbstract" xlink:to="us-gaap_StatementOfPartnersCapitalAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfPartnersCapitalAbstract_lbl" xml:lang="en-US"> Statement - Condensed Statements of Changes in Partners' Capital </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnerCapitalComponentsAxis" xlink:label="us-gaap_PartnerCapitalComponentsAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnerCapitalComponentsAxis" xlink:to="us-gaap_PartnerCapitalComponentsAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnerCapitalComponentsAxis_lbl" xml:lang="en-US"> Partner Capital Components [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnerCapitalComponentsDomain" xlink:label="us-gaap_PartnerCapitalComponentsDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnerCapitalComponentsDomain" xlink:to="us-gaap_PartnerCapitalComponentsDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnerCapitalComponentsDomain_lbl" xml:lang="en-US"> Partner Capital Components [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnerMember" xlink:label="us-gaap_LimitedPartnerMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnerMember" xlink:to="us-gaap_LimitedPartnerMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnerMember_lbl" xml:lang="en-US"> Limited Partner [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnerMember_lbl" xml:lang="en-US"> Limited Partners </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountContributions" xlink:label="us-gaap_PartnersCapitalAccountContributions"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountContributions" xlink:to="us-gaap_PartnersCapitalAccountContributions_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountContributions_lbl" xml:lang="en-US"> Partners Capital Account Contributions </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAccountContributions_lbl" xml:lang="en-US"> Addition of (-), 48,500,000 and 26,000,000 partnership shares, respectively </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountRedemptions" xlink:label="us-gaap_PartnersCapitalAccountRedemptions"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountRedemptions" xlink:to="us-gaap_PartnersCapitalAccountRedemptions_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US"> Partners Capital Account Redemptions </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US"> Redemption of (-), (64,100,000) and (91,800,000) partnership shares, respectively </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountUnitsContributed" xlink:label="us-gaap_PartnersCapitalAccountUnitsContributed"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountUnitsContributed" xlink:to="us-gaap_PartnersCapitalAccountUnitsContributed_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountUnitsContributed_lbl" xml:lang="en-US"> Partners Capital Account Units Contributed </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAccountUnitsContributed_lbl" xml:lang="en-US"> Addition of partnership units </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:to="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xml:lang="en-US"> Partners Capital Account Units Redeemed </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xml:lang="en-US"> Redemption of partnership units </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US"> Condensed Statements of Cash Flows (Unaudited) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US"> Cash Flows from Operating Activities: </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US"> Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US"> Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xlink:to="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" xml:lang="en-US"> Unrealized Gain Loss On Derivatives And Commodity Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" xml:lang="en-US"> Change in unrealized (gain) loss on open commodity futures contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" xml:lang="en-US"> Change in Unrealized Gain (Loss) on Derivatives Recognized in Income </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_ChangeInUnrealizedGainLossOnOpenSwapContracts" xlink:label="uso_ChangeInUnrealizedGainLossOnOpenSwapContracts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_ChangeInUnrealizedGainLossOnOpenSwapContracts" xlink:to="uso_ChangeInUnrealizedGainLossOnOpenSwapContracts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_ChangeInUnrealizedGainLossOnOpenSwapContracts_lbl" xml:lang="en-US"> Amount of change in unrealized gain (loss) on open swap contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_ChangeInUnrealizedGainLossOnOpenSwapContracts_lbl" xml:lang="en-US"> Change In Unrealized Gain (Loss) On Open Swap Contracts </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="uso_ChangeInUnrealizedGainLossOnOpenSwapContracts_lbl" xml:lang="en-US"> Change in unrealized (gain) loss on open swap contracts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInDividendsReceivable" xlink:label="us-gaap_IncreaseDecreaseInDividendsReceivable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDividendsReceivable" xlink:to="us-gaap_IncreaseDecreaseInDividendsReceivable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDividendsReceivable_lbl" xml:lang="en-US"> Increase (Decrease) in Dividends Receivable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInDividendsReceivable_lbl" xml:lang="en-US"> (Increase) decrease in dividends receivable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:to="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US"> Increase (Decrease) in Accrued Interest Receivable, Net </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US"> (Increase) decrease in interest receivable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInPrepaidInsurances" xlink:label="uso_IncreaseDecreaseInPrepaidInsurances"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInPrepaidInsurances" xlink:to="uso_IncreaseDecreaseInPrepaidInsurances_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInPrepaidInsurances_lbl" xml:lang="en-US"> The (increase) decrease in prepaid insurance. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInPrepaidInsurances_lbl" xml:lang="en-US"> Increase Decrease In Prepaid Insurances </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_IncreaseDecreaseInPrepaidInsurances_lbl" xml:lang="en-US"> (Increase) decrease in prepaid insurance </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US"> Increase (Decrease) in Prepaid Expense </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US"> (Increase) decrease in prepaid registration fees </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInOtherIncome" xlink:label="uso_IncreaseDecreaseInOtherIncome"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInOtherIncome" xlink:to="uso_IncreaseDecreaseInOtherIncome_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInOtherIncome_lbl" xml:lang="en-US"> It represents the increase and decrease in other income of a business entity. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInOtherIncome_lbl" xml:lang="en-US"> Increase Decrease In Other Income </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_IncreaseDecreaseInOtherIncome_lbl" xml:lang="en-US"> (Increase) decrease in ETF transaction fees receivable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInPayableDueToCustody" xlink:label="uso_IncreaseDecreaseInPayableDueToCustody"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInPayableDueToCustody" xlink:to="uso_IncreaseDecreaseInPayableDueToCustody_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInPayableDueToCustody_lbl" xml:lang="en-US"> The change during the period, either increase or decrease, in amounts payable due to custody. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInPayableDueToCustody_lbl" xml:lang="en-US"> Increase Decrease In Payables Due To Custody </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_IncreaseDecreaseInPayableDueToCustody_lbl" xml:lang="en-US"> Increase (decrease) payable due to custody </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInPayablesDueToCustomers" xlink:label="uso_IncreaseDecreaseInPayablesDueToCustomers"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInPayablesDueToCustomers" xlink:to="uso_IncreaseDecreaseInPayablesDueToCustomers_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInPayablesDueToCustomers_lbl" xml:lang="en-US"> The change during the period, either increase or decrease, in amounts payable due to broker. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInPayablesDueToCustomers_lbl" xml:lang="en-US"> Increase Decrease In Payables Due To Customers </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_IncreaseDecreaseInPayablesDueToCustomers_lbl" xml:lang="en-US"> Increase (decrease) in payable due to Broker </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseManagementFeesPayable" xlink:label="uso_IncreaseDecreaseManagementFeesPayable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseManagementFeesPayable" xlink:to="uso_IncreaseDecreaseManagementFeesPayable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseManagementFeesPayable_lbl" xml:lang="en-US"> Net change in management fee payable. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseManagementFeesPayable_lbl" xml:lang="en-US"> Increase Decrease Management Fees Payable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_IncreaseDecreaseManagementFeesPayable_lbl" xml:lang="en-US"> Increase (decrease) in General Partner management fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInProfessionalFeesPayable" xlink:label="uso_IncreaseDecreaseInProfessionalFeesPayable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInProfessionalFeesPayable" xlink:to="uso_IncreaseDecreaseInProfessionalFeesPayable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInProfessionalFeesPayable_lbl" xml:lang="en-US"> The amount of increase (decrease) in professional fees payable. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInProfessionalFeesPayable_lbl" xml:lang="en-US"> Increase Decrease In Professional Fees Payable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_IncreaseDecreaseInProfessionalFeesPayable_lbl" xml:lang="en-US"> Increase (decrease) in professional fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:to="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" xml:lang="en-US"> Increase (Decrease) in Payables to Broker-Dealers and Clearing Organizations </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" xml:lang="en-US"> Increase (decrease) in brokerage commissions payable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInDirectorsFeesPayable" xlink:label="uso_IncreaseDecreaseInDirectorsFeesPayable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInDirectorsFeesPayable" xlink:to="uso_IncreaseDecreaseInDirectorsFeesPayable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInDirectorsFeesPayable_lbl" xml:lang="en-US"> The amount of information pertaining to increase (decrease) in directors fees payable of an entity during the period. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInDirectorsFeesPayable_lbl" xml:lang="en-US"> Increase (Decrease) In Directors Fees Payable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="uso_IncreaseDecreaseInDirectorsFeesPayable_lbl" xml:lang="en-US"> Increase (decrease) in directors' fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInLicenseFeesPayable" xlink:label="uso_IncreaseDecreaseInLicenseFeesPayable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInLicenseFeesPayable" xlink:to="uso_IncreaseDecreaseInLicenseFeesPayable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInLicenseFeesPayable_lbl" xml:lang="en-US"> The amount of increase (decrease) in license fees payable. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInLicenseFeesPayable_lbl" xml:lang="en-US"> Increase Decrease In License Fees Payable </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_IncreaseDecreaseInLicenseFeesPayable_lbl" xml:lang="en-US"> Increase (decrease) in license fees payable </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US"> Net cash provided by (used in) operating activities </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US"> Cash Flows from Financing Activities: </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromPartnershipContribution" xlink:label="us-gaap_ProceedsFromPartnershipContribution"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPartnershipContribution" xlink:to="us-gaap_ProceedsFromPartnershipContribution_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPartnershipContribution_lbl" xml:lang="en-US"> Proceeds From Partnership Contribution </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPartnershipContribution_lbl" xml:lang="en-US"> Addition of partnership shares </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PaymentsToPartnershipRedemption" xlink:label="uso_PaymentsToPartnershipRedemption"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PaymentsToPartnershipRedemption" xlink:to="uso_PaymentsToPartnershipRedemption_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PaymentsToPartnershipRedemption_lbl" xml:lang="en-US"> The amount of payments to partnership redemption. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PaymentsToPartnershipRedemption_lbl" xml:lang="en-US"> Payments To Partnership Redemption </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="uso_PaymentsToPartnershipRedemption_lbl" xml:lang="en-US"> Redemption of partnership shares </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US"> Net cash provided by (used in) financing activities </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US"> Cash And Cash Equivalents Period Increase Decrease </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US"> Net Increase (Decrease) in Cash and Cash Equivalents </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US"> Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US"> Total Cash, Cash Equivalents and Equity in Trading Accounts, end of year </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US"> Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of year </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US"> Supplemental Cash Flow Information [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US"> Components of Cash and Cash Equivalents, and Equity in Trading Account: </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_EquityInTradingAccountsAbstract" xlink:label="uso_EquityInTradingAccountsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_EquityInTradingAccountsAbstract" xlink:to="uso_EquityInTradingAccountsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_EquityInTradingAccountsAbstract_lbl" xml:lang="en-US"> Equity In Trading Accounts [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_EquityInTradingAccountsAbstract_lbl" xml:lang="en-US"> Equity in Trading Accounts: </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CashAndCashEquivalentInEquityInTradingAccounts" xlink:label="uso_CashAndCashEquivalentInEquityInTradingAccounts"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CashAndCashEquivalentInEquityInTradingAccounts" xlink:to="uso_CashAndCashEquivalentInEquityInTradingAccounts_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CashAndCashEquivalentInEquityInTradingAccounts_lbl" xml:lang="en-US"> Represents the amount of cash and cash equivalent in equity in trading accounts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CashAndCashEquivalentInEquityInTradingAccounts_lbl" xml:lang="en-US"> Total Cash, Cash Equivalents and Equity in Trading Accounts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="uso_CashAndCashEquivalentInEquityInTradingAccounts_lbl" xml:lang="en-US"> Total Cash, Cash Equivalents and Equity in Trading Accounts </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US"> ORGANIZATION AND BUSINESS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US"> Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US"> ORGANIZATION AND BUSINESS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US"> SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US"> Significant Accounting Policies [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US"> SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FeesPaidByFundAndRelatedPartyTransactionsAbstract" xlink:label="uso_FeesPaidByFundAndRelatedPartyTransactionsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FeesPaidByFundAndRelatedPartyTransactionsAbstract" xlink:to="uso_FeesPaidByFundAndRelatedPartyTransactionsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FeesPaidByFundAndRelatedPartyTransactionsAbstract_lbl" xml:lang="en-US"> No definition available </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FeesPaidByFundAndRelatedPartyTransactionsAbstract_lbl" xml:lang="en-US"> FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xlink:to="uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US"> Fees Paid and Related Party Transactions Disclosure </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US"> Fees Paid And Related Party Transactions Disclosure [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US"> FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ContractorsAbstract" xlink:label="us-gaap_ContractorsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractorsAbstract" xlink:to="us-gaap_ContractorsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractorsAbstract_lbl" xml:lang="en-US"> CONTRACTS AND AGREEMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xlink:label="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xlink:to="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock_lbl" xml:lang="en-US"> Long-term Contracts or Programs Disclosure [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock_lbl" xml:lang="en-US"> CONTRACTS AND AGREEMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xlink:label="uso_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xlink:to="uso_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract_lbl" xml:lang="en-US"> FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsDisclosureTextBlock" xlink:label="us-gaap_FinancialInstrumentsDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsDisclosureTextBlock" xlink:to="us-gaap_FinancialInstrumentsDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsDisclosureTextBlock_lbl" xml:lang="en-US"> Financial Instruments Disclosure [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FinancialInstrumentsDisclosureTextBlock_lbl" xml:lang="en-US"> FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FinancialHighlightAbstract" xlink:label="uso_FinancialHighlightAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FinancialHighlightAbstract" xlink:to="uso_FinancialHighlightAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FinancialHighlightAbstract_lbl" xml:lang="en-US"> No definition available. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FinancialHighlightAbstract_lbl" xml:lang="en-US"> FINANCIAL HIGHLIGHTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xlink:label="us-gaap_AdditionalFinancialInformationDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xlink:to="us-gaap_AdditionalFinancialInformationDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalFinancialInformationDisclosureTextBlock_lbl" xml:lang="en-US"> Additional Financial Information Disclosure [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalFinancialInformationDisclosureTextBlock_lbl" xml:lang="en-US"> FINANCIAL HIGHLIGHTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="us-gaap_QuarterlyFinancialInformationDisclosureAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:to="us-gaap_QuarterlyFinancialInformationDisclosureAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_QuarterlyFinancialInformationDisclosureAbstract_lbl" xml:lang="en-US"> QUARTERLY FINANCIAL DATA (Unaudited) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_QuarterlyFinancialInformationTextBlock" xlink:to="us-gaap_QuarterlyFinancialInformationTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock_lbl" xml:lang="en-US"> Quarterly Financial Information [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock_lbl" xml:lang="en-US"> Quarterly Financial Data (Unaudited) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="us-gaap_FairValueDisclosuresAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US"> FAIR VALUE OF FINANCIAL INSTRUMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US"> Fair Value Disclosures [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US"> FAIR VALUE OF FINANCIAL INSTRUMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xml:lang="en-US"> SUBSEQUENT EVENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US"> Subsequent Events [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US"> SUBSEQUENT EVENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US"> Basis of Presentation and Significant Accounting Policies [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US"> Basis of Presentation </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US"> Revenue Recognition, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US"> Revenue Recognition </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommissionsPolicy" xlink:label="us-gaap_CommissionsPolicy"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommissionsPolicy" xlink:to="us-gaap_CommissionsPolicy_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommissionsPolicy_lbl" xml:lang="en-US"> Commissions, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommissionsPolicy_lbl" xml:lang="en-US"> Brokerage Commissions </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US"> Income Tax, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US"> Income Taxes </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xlink:label="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xlink:to="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_lbl" xml:lang="en-US"> Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_lbl" xml:lang="en-US"> Creations and Redemptions </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xlink:label="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xlink:to="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription_lbl" xml:lang="en-US"> Incentive Distribution Policy, Managing Member or General Partner, Description [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription_lbl" xml:lang="en-US"> Partnership Capital and Allocation of Partnership Income and Losses </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NetAssetValuePolicyTextBlock" xlink:label="uso_NetAssetValuePolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NetAssetValuePolicyTextBlock" xlink:to="uso_NetAssetValuePolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NetAssetValuePolicyTextBlock_lbl" xml:lang="en-US"> Disclosure of accounting policy for net asset value. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NetAssetValuePolicyTextBlock_lbl" xml:lang="en-US"> Net Asset Value Policy [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_NetAssetValuePolicyTextBlock_lbl" xml:lang="en-US"> Calculation of Per Share NAV </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US"> Earnings Per Share, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US"> Net Income (Loss) Per Share </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OtherOperatingIncomeExpensePolicyTextBlock" xlink:label="uso_OtherOperatingIncomeExpensePolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OtherOperatingIncomeExpensePolicyTextBlock" xlink:to="uso_OtherOperatingIncomeExpensePolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OtherOperatingIncomeExpensePolicyTextBlock_lbl" xml:lang="en-US"> Disclosure of accounting policy for other operating income (expense). </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OtherOperatingIncomeExpensePolicyTextBlock_lbl" xml:lang="en-US"> Other Operating Income Expense Policy [Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OtherOperatingIncomeExpensePolicyTextBlock_lbl" xml:lang="en-US"> Offering Costs </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US"> Cash and Cash Equivalents, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US"> Cash Equivalents </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US"> Reclassification, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US"> Reclassification </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US"> Use of Estimates, Policy [Policy Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US"> Use of Estimates </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_BrokerageCommissionsTableTextBlock" xlink:label="uso_BrokerageCommissionsTableTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_BrokerageCommissionsTableTextBlock" xlink:to="uso_BrokerageCommissionsTableTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_BrokerageCommissionsTableTextBlock_lbl" xml:lang="en-US"> Tabular disclosure of fees earned by the broker commission. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_BrokerageCommissionsTableTextBlock_lbl" xml:lang="en-US"> Brokerage Commissions [Table Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_BrokerageCommissionsTableTextBlock_lbl" xml:lang="en-US"> Summary of brokerage commission </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xlink:label="uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xlink:to="uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" xml:lang="en-US"> Tabular disclosure of per unit performance data and other supplemental financial data. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" xml:lang="en-US"> Per Unit Performance Data And Other Supplemental Financial Data [Table Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" xml:lang="en-US"> Summary of per share performance data and other supplemental financial data </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:to="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xml:lang="en-US"> Quarterly Financial Information [Table Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xml:lang="en-US"> Summarized (unaudited) quarterly financial information </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xlink:label="us-gaap_FairValueMeasurementInputsDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xlink:to="us-gaap_FairValueMeasurementInputsDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementInputsDisclosureTextBlock_lbl" xml:lang="en-US"> Fair Value Measurement Inputs Disclosure [Table Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementInputsDisclosureTextBlock_lbl" xml:lang="en-US"> Summary of valuation of securities using fair value hierarchy </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xml:lang="en-US"> Derivative Instruments And Hedging Activities Disclosure [Table Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xml:lang="en-US"> Summary of fair value of derivative instruments </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xml:lang="en-US"> Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Table Text Block] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xml:lang="en-US"> Summary of derivative instruments on the condensed statements of operations </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xlink:to="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements Disclosure [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" xml:lang="en-US"> Organization Consolidation And Presentation Of Financial Statements Disclosure [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements Disclosure [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember" xlink:label="uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember" xlink:to="uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember_lbl" xml:lang="en-US"> Represents information pertaining to Oil Futures Contracts for light, sweet crude oil traded on the NYMEX. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember_lbl" xml:lang="en-US"> Oil Futures Contracts For Light Sweet Crude Oil Traded On NYMEX [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OilFuturesContractsForLightSweetCrudeOilTradedOnNymexMember_lbl" xml:lang="en-US"> Oil Futures Contracts for light, sweet crude oil traded on the NYMEX </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CreationBasketsMember" xlink:label="uso_CreationBasketsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CreationBasketsMember" xlink:to="uso_CreationBasketsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CreationBasketsMember_lbl" xml:lang="en-US"> This member stands for creation baskets. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CreationBasketsMember_lbl" xml:lang="en-US"> Creation Baskets [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_CreationBasketsMember_lbl" xml:lang="en-US"> Creation Baskets </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_RedemptionBasketsMember" xlink:label="uso_RedemptionBasketsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_RedemptionBasketsMember" xlink:to="uso_RedemptionBasketsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_RedemptionBasketsMember_lbl" xml:lang="en-US"> This member stands for information pertaining to redemption baskets. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_RedemptionBasketsMember_lbl" xml:lang="en-US"> Redemption Baskets [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_RedemptionBasketsMember_lbl" xml:lang="en-US"> Redemption Baskets </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xlink:to="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" xml:lang="en-US"> Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" xml:lang="en-US"> Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" xml:lang="en-US"> ORGANIZATION AND BUSINESS </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NumberOfSuccessiveValuationDays" xlink:label="uso_NumberOfSuccessiveValuationDays"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NumberOfSuccessiveValuationDays" xlink:to="uso_NumberOfSuccessiveValuationDays_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NumberOfSuccessiveValuationDays_lbl" xml:lang="en-US"> Number of successive valuation days over which the average daily percentage change in the fund's NAV will be considered for achieving the entity's investment objective, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NumberOfSuccessiveValuationDays_lbl" xml:lang="en-US"> Number Of Successive Valuation Days </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_NumberOfSuccessiveValuationDays_lbl" xml:lang="en-US"> Number of successive valuation days </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_NumberOfUnitPerBasket" xlink:label="uso_NumberOfUnitPerBasket"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NumberOfUnitPerBasket" xlink:to="uso_NumberOfUnitPerBasket_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NumberOfUnitPerBasket_lbl" xml:lang="en-US"> Total number of units in the basket. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NumberOfUnitPerBasket_lbl" xml:lang="en-US"> Number Of Unit Per Basket </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_NumberOfUnitPerBasket_lbl" xml:lang="en-US"> Number of units in the basket </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FeePaidPerOrder" xlink:label="uso_FeePaidPerOrder"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FeePaidPerOrder" xlink:to="uso_FeePaidPerOrder_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FeePaidPerOrder_lbl" xml:lang="en-US"> Transaction fee for each order placed to create one or more Creation Baskets or to redeem one or more baskets. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FeePaidPerOrder_lbl" xml:lang="en-US"> Fee Paid Per Order </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_FeePaidPerOrder_lbl" xml:lang="en-US"> Fee paid for each order placed to create one or more creation baskets </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US"> Common Stock, Shares, Issued </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US"> Number of shares issued </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US"> Common Stock, Shares, Outstanding </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US"> Number of shares outstanding </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:label="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:to="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl" xml:lang="en-US"> Stockholders' Equity Note, Stock Split, Conversion Ratio </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_lbl" xml:lang="en-US"> Conversion ratio </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnersCapitalAccountUnitsAuthorized" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsAuthorized"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnersCapitalAccountUnitsAuthorized" xlink:to="us-gaap_LimitedPartnersCapitalAccountUnitsAuthorized_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsAuthorized_lbl" xml:lang="en-US"> Limited Partners' Capital Account, Units Authorized </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsAuthorized_lbl" xml:lang="en-US"> Limited partners' capital account, number of units authorized </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnersCapitalAccountUnitsIssued" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsIssued"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnersCapitalAccountUnitsIssued" xlink:to="us-gaap_LimitedPartnersCapitalAccountUnitsIssued_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsIssued_lbl" xml:lang="en-US"> Limited Partners' Capital Account, Units Issued </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsIssued_lbl" xml:lang="en-US"> Limited partners capital account units issued </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_UnitsIssuedDuringPeriodValueNewIssues" xlink:label="uso_UnitsIssuedDuringPeriodValueNewIssues"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_UnitsIssuedDuringPeriodValueNewIssues" xlink:to="uso_UnitsIssuedDuringPeriodValueNewIssues_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_UnitsIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US"> The amount received towards issuance of units. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_UnitsIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US"> Units Issued During Period Value New Issues </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_UnitsIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US"> Value of units issued </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetAssetValuePerShare" xlink:label="us-gaap_NetAssetValuePerShare"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetAssetValuePerShare" xlink:to="us-gaap_NetAssetValuePerShare_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetAssetValuePerShare_lbl" xml:lang="en-US"> Net Asset Value Per Share </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_SignificantAccountingPoliciesTable" xlink:label="uso_SignificantAccountingPoliciesTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_SignificantAccountingPoliciesTable" xlink:to="uso_SignificantAccountingPoliciesTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US"> Significant Accounting Policies [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US"> Significant Accounting Policies [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US"> Significant Accounting Policies [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_UscfMember" xlink:label="uso_UscfMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_UscfMember" xlink:to="uso_UscfMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_UscfMember_lbl" xml:lang="en-US"> This member stands for United States Commodity Funds LLC. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_UscfMember_lbl" xml:lang="en-US"> USCF [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_UscfMember_lbl" xml:lang="en-US"> USCF </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_SignificantAccountingPoliciesLineItems" xlink:label="uso_SignificantAccountingPoliciesLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_SignificantAccountingPoliciesLineItems" xlink:to="uso_SignificantAccountingPoliciesLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US"> Significant Accounting Policies [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US"> Significant Accounting Policies [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US"> SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:to="us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_lbl" xml:lang="en-US"> Income Tax Examination, Penalties and Interest Expense </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_lbl" xml:lang="en-US"> Interest expense or penalties </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US"> Weighted Average Number of Shares Outstanding, Diluted </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US"> Weighted average number of shares outstanding </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US"> Schedule of Related Party Transactions, by Related Party [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="us-gaap_TypeOfArrangementAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xml:lang="en-US"> Type Of Arrangement [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xml:lang="en-US"> Arrangements and Non-arrangement Transactions [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LicensingAgreementsMember" xlink:label="us-gaap_LicensingAgreementsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicensingAgreementsMember" xlink:to="us-gaap_LicensingAgreementsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LicensingAgreementsMember_lbl" xml:lang="en-US"> Licensing Agreements [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LicensingAgreementsMember_lbl" xml:lang="en-US"> Licensing Agreements </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US"> Legal Entity [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US"> Entity [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_UsoAndRelatedPublicFundsMember" xlink:label="uso_UsoAndRelatedPublicFundsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_UsoAndRelatedPublicFundsMember" xlink:to="uso_UsoAndRelatedPublicFundsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_UsoAndRelatedPublicFundsMember_lbl" xml:lang="en-US"> This member stands for USO and related public funds. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_UsoAndRelatedPublicFundsMember_lbl" xml:lang="en-US"> USO And Related Public Funds [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_UsoAndRelatedPublicFundsMember_lbl" xml:lang="en-US"> USO And Related Public Funds </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FeesPaidAndRelatedPartyTransactionsLineItems" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FeesPaidAndRelatedPartyTransactionsLineItems" xlink:to="uso_FeesPaidAndRelatedPartyTransactionsLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" xml:lang="en-US"> Fees Paid and Related Party Transactions [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" xml:lang="en-US"> Fees Paid And Related Party Transactions [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" xml:lang="en-US"> FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfContractualObligationToPayFee" xlink:label="uso_PercentageOfContractualObligationToPayFee"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfContractualObligationToPayFee" xlink:to="uso_PercentageOfContractualObligationToPayFee_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfContractualObligationToPayFee_lbl" xml:lang="en-US"> The percentage of Contractual Obligation to Pay Fee. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfContractualObligationToPayFee_lbl" xml:lang="en-US"> Percentage of Contractual Obligation to Pay Fee </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_PercentageOfContractualObligationToPayFee_lbl" xml:lang="en-US"> USCF management fee </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_BaseFeePercentage" xlink:label="uso_BaseFeePercentage"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_BaseFeePercentage" xlink:to="uso_BaseFeePercentage_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_BaseFeePercentage_lbl" xml:lang="en-US"> Percentage of base fee. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_BaseFeePercentage_lbl" xml:lang="en-US"> Base Fee Percentage </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_BaseFeePercentage_lbl" xml:lang="en-US"> Fee percentage </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_LicenseFeesAndOtherOfferingExpenses" xlink:label="uso_LicenseFeesAndOtherOfferingExpenses"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_LicenseFeesAndOtherOfferingExpenses" xlink:to="uso_LicenseFeesAndOtherOfferingExpenses_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US"> It represent the value of license fees and other offering expenses. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US"> License Fees And Other Offering Expenses </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US"> Licensing fee incurred </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_InvestorTaxReportingCost" xlink:label="uso_InvestorTaxReportingCost"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_InvestorTaxReportingCost" xlink:to="uso_InvestorTaxReportingCost_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_InvestorTaxReportingCost_lbl" xml:lang="en-US"> Amount of expenses incurred by the company for investor tax reporting costs. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_InvestorTaxReportingCost_lbl" xml:lang="en-US"> Investor Tax Reporting Cost </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_InvestorTaxReportingCost_lbl" xml:lang="en-US"> Investor tax reporting cost </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xlink:to="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable_lbl" xml:lang="en-US"> Long Duration Contracts Assumptions By Product And Guarantee [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable_lbl" xml:lang="en-US"> Long-Duration Contracts, Assumptions, by Product and Guarantee [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_MarketingAgreementMember" xlink:label="uso_MarketingAgreementMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_MarketingAgreementMember" xlink:to="uso_MarketingAgreementMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_MarketingAgreementMember_lbl" xml:lang="en-US"> This member stands for information pertaining to marketing agreement. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_MarketingAgreementMember_lbl" xml:lang="en-US"> Marketing Agreement </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_MarketingAgreementMember_lbl" xml:lang="en-US"> Marketing Agreement </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_BrokerageAndFuturesCommissionMerchantAgreementsMember" xlink:label="uso_BrokerageAndFuturesCommissionMerchantAgreementsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_BrokerageAndFuturesCommissionMerchantAgreementsMember" xlink:to="uso_BrokerageAndFuturesCommissionMerchantAgreementsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_BrokerageAndFuturesCommissionMerchantAgreementsMember_lbl" xml:lang="en-US"> This member stands for information pertaining to brokerage and future commission under the agreement. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_BrokerageAndFuturesCommissionMerchantAgreementsMember_lbl" xml:lang="en-US"> Brokerage and Futures Commission Merchant Agreements </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_BrokerageAndFuturesCommissionMerchantAgreementsMember_lbl" xml:lang="en-US"> Brokerage and Futures Commission Merchant Agreements </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_GroupThreeMember" xlink:label="uso_GroupThreeMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_GroupThreeMember" xlink:to="uso_GroupThreeMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_GroupThreeMember_lbl" xml:lang="en-US"> This member stands for Group three </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_GroupThreeMember_lbl" xml:lang="en-US"> Group Three [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_GroupThreeMember_lbl" xml:lang="en-US"> USOF's assets from $0- $500 million </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_GroupFourMember" xlink:label="uso_GroupFourMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_GroupFourMember" xlink:to="uso_GroupFourMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_GroupFourMember_lbl" xml:lang="en-US"> This member stands for Group Four </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_GroupFourMember_lbl" xml:lang="en-US"> Group Four [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_GroupFourMember_lbl" xml:lang="en-US"> USOF's assets from $500 million - $4 billion </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_GroupFiveMember" xlink:label="uso_GroupFiveMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_GroupFiveMember" xlink:to="uso_GroupFiveMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_GroupFiveMember_lbl" xml:lang="en-US"> This member stands for Group Four </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_GroupFiveMember_lbl" xml:lang="en-US"> Group Five [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_GroupFiveMember_lbl" xml:lang="en-US"> USOF's assets in excess of $4 billion </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeAxis" xlink:label="srt_RangeAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US"> Range [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeMember" xlink:label="srt_RangeMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeMember_lbl" xml:lang="en-US"> Range [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MinimumMember" xlink:label="srt_MinimumMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US"> Minimum </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US"> Minimum </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MaximumMember" xlink:label="srt_MaximumMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US"> Maximum </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US"> Maximum </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xlink:to="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems_lbl" xml:lang="en-US"> Long Duration Contracts Assumptions By Product And Guarantee [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems_lbl" xml:lang="en-US"> CONTRACTS AND AGREEMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MarketingExpense" xlink:label="us-gaap_MarketingExpense"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketingExpense" xlink:to="us-gaap_MarketingExpense_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketingExpense_lbl" xml:lang="en-US"> Marketing Expense </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MarketingExpense_lbl" xml:lang="en-US"> Marketing fee exclusive of the incentive fee </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_BasisAmountForFeePercentage" xlink:label="uso_BasisAmountForFeePercentage"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_BasisAmountForFeePercentage" xlink:to="uso_BasisAmountForFeePercentage_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_BasisAmountForFeePercentage_lbl" xml:lang="en-US"> Represents basis amount for fee percentage. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_BasisAmountForFeePercentage_lbl" xml:lang="en-US"> Basis Amount For Fee Percentage </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_BasisAmountForFeePercentage_lbl" xml:lang="en-US"> Base amount for determining fee percentage </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfTotalNetAsset" xlink:label="uso_PercentageOfTotalNetAsset"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfTotalNetAsset" xlink:to="uso_PercentageOfTotalNetAsset_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfTotalNetAsset_lbl" xml:lang="en-US"> Represents the total net asset percentage. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfTotalNetAsset_lbl" xml:lang="en-US"> Percentage Of Total Net Asset </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_PercentageOfTotalNetAsset_lbl" xml:lang="en-US"> Percentage of total net asset </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_RatioOfExpensesToAverageNetAssets" xlink:label="uso_RatioOfExpensesToAverageNetAssets"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_RatioOfExpensesToAverageNetAssets" xlink:to="uso_RatioOfExpensesToAverageNetAssets_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_RatioOfExpensesToAverageNetAssets_lbl" xml:lang="en-US"> Ratio Of Expenses To Average Net Assets </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_RatioOfExpensesToAverageNetAssets_lbl" xml:lang="en-US"> Ratio Of Expenses To Average Net Assets </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_RatioOfExpensesToAverageNetAssets_lbl" xml:lang="en-US"> Ratio of expense to average net assets </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CommissionsPaid" xlink:label="uso_CommissionsPaid"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CommissionsPaid" xlink:to="uso_CommissionsPaid_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CommissionsPaid_lbl" xml:lang="en-US"> Represents the commissions per round-turn trade, including applicable exchange and NFA fees for oil futures contracts and options on oil futures contracts. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CommissionsPaid_lbl" xml:lang="en-US"> Commissions Paid </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_CommissionsPaid_lbl" xml:lang="en-US"> Commissions per round-turn trade, including applicable exchange and NFA fees for oil futures contracts and options on oil futures contracts </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_FlatFeesPaid" xlink:label="uso_FlatFeesPaid"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_FlatFeesPaid" xlink:to="uso_FlatFeesPaid_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_FlatFeesPaid_lbl" xml:lang="en-US"> It represents the flat fees percentage. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_FlatFeesPaid_lbl" xml:lang="en-US"> Flat fees paid </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_FlatFeesPaid_lbl" xml:lang="en-US"> Flat fee </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NatureOfExpenseAxis" xlink:label="us-gaap_NatureOfExpenseAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfExpenseAxis" xlink:to="us-gaap_NatureOfExpenseAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfExpenseAxis_lbl" xml:lang="en-US"> Nature Of Expense [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:label="us-gaap_InterimPeriodCostsNotAllocableDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:to="us-gaap_InterimPeriodCostsNotAllocableDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterimPeriodCostsNotAllocableDomain_lbl" xml:lang="en-US"> Interim Period, Costs Not Allocable [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CommissionMember" xlink:label="uso_CommissionMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CommissionMember" xlink:to="uso_CommissionMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CommissionMember_lbl" xml:lang="en-US"> This member stands for brokerage commission. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CommissionMember_lbl" xml:lang="en-US"> Commission [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_CommissionMember_lbl" xml:lang="en-US"> Commission </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfCommissionsAccrued" xlink:label="uso_PercentageOfCommissionsAccrued"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfCommissionsAccrued" xlink:to="uso_PercentageOfCommissionsAccrued_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfCommissionsAccrued_lbl" xml:lang="en-US"> Percentage of percentage of commissions accrued. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfCommissionsAccrued_lbl" xml:lang="en-US"> Percentage Of Commissions Accrued </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_PercentageOfCommissionsAccrued_lbl" xml:lang="en-US"> Total commissions as annualized percentage of average total net assets </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingenciesTable" xlink:label="us-gaap_LossContingenciesTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesTable" xlink:to="us-gaap_LossContingenciesTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingenciesTable_lbl" xml:lang="en-US"> Loss Contingencies [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LossContingenciesTable_lbl" xml:lang="en-US"> Loss Contingencies [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_LitigationCaseAxis" xlink:label="srt_LitigationCaseAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_LitigationCaseAxis" xlink:to="srt_LitigationCaseAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_LitigationCaseAxis_lbl" xml:lang="en-US"> Litigation Case [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_LitigationCaseTypeDomain" xlink:label="srt_LitigationCaseTypeDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_LitigationCaseTypeDomain" xlink:to="srt_LitigationCaseTypeDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_LitigationCaseTypeDomain_lbl" xml:lang="en-US"> Litigation Case [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_SECInvestigationMember" xlink:label="uso_SECInvestigationMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_SECInvestigationMember" xlink:to="uso_SECInvestigationMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_SECInvestigationMember_lbl" xml:lang="en-US"> This member stands for SEC investigation. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_SECInvestigationMember_lbl" xml:lang="en-US"> SEC </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_SECInvestigationMember_lbl" xml:lang="en-US"> SEC </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_CftcInvestigationMember" xlink:label="uso_CftcInvestigationMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_CftcInvestigationMember" xlink:to="uso_CftcInvestigationMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_CftcInvestigationMember_lbl" xml:lang="en-US"> This member stands for CFTC investigation. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_CftcInvestigationMember_lbl" xml:lang="en-US"> CFTC </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_CftcInvestigationMember_lbl" xml:lang="en-US"> CFTC </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_USTreasurySecuritiesMember" xlink:label="us-gaap_USTreasurySecuritiesMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USTreasurySecuritiesMember" xlink:to="us-gaap_USTreasurySecuritiesMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USTreasurySecuritiesMember_lbl" xml:lang="en-US"> US Treasury Securities </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_USTreasurySecuritiesMember_lbl" xml:lang="en-US"> US Treasury Securities </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xml:lang="en-US"> Derivative Instrument Risk [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="us-gaap_DerivativeContractTypeDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeContractTypeDomain" xlink:to="us-gaap_DerivativeContractTypeDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xml:lang="en-US"> Derivative Contract Type [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongMember" xlink:label="us-gaap_LongMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongMember" xlink:to="us-gaap_LongMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongMember_lbl" xml:lang="en-US"> Long [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongMember_lbl" xml:lang="en-US"> Open future </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SwapMember" xlink:label="us-gaap_SwapMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SwapMember" xlink:to="us-gaap_SwapMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SwapMember_lbl" xml:lang="en-US"> Swap [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SwapMember_lbl" xml:lang="en-US"> Swap </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SwapMember_lbl" xml:lang="en-US"> Swap contract </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingenciesLineItems" xlink:label="us-gaap_LossContingenciesLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesLineItems" xlink:to="us-gaap_LossContingenciesLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingenciesLineItems_lbl" xml:lang="en-US"> Loss Contingencies [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LossContingenciesLineItems_lbl" xml:lang="en-US"> FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Deposits" xlink:label="us-gaap_Deposits"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Deposits" xlink:to="us-gaap_Deposits_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Deposits_lbl" xml:lang="en-US"> Deposits </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Deposits_lbl" xml:lang="en-US"> Deposits in domestic and foreign financial institutions, including cash investments in money market funds </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_AggregateCivilPenaltyToBePaid" xlink:label="uso_AggregateCivilPenaltyToBePaid"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_AggregateCivilPenaltyToBePaid" xlink:to="uso_AggregateCivilPenaltyToBePaid_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_AggregateCivilPenaltyToBePaid_lbl" xml:lang="en-US"> Represents the amount of civil penalty paid. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_AggregateCivilPenaltyToBePaid_lbl" xml:lang="en-US"> Aggregate Civil Penalty To Be Paid </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_AggregateCivilPenaltyToBePaid_lbl" xml:lang="en-US"> Aggregate penalty to be paid </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsForLegalSettlements" xlink:label="us-gaap_PaymentsForLegalSettlements"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForLegalSettlements" xlink:to="us-gaap_PaymentsForLegalSettlements_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForLegalSettlements_lbl" xml:lang="en-US"> Payments for Legal Settlements </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsForLegalSettlements_lbl" xml:lang="en-US"> Penalty paid </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeNotionalAmount" xlink:label="us-gaap_DerivativeNotionalAmount"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNotionalAmount" xlink:to="us-gaap_DerivativeNotionalAmount_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xml:lang="en-US"> Derivative, Notional Amount </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xml:lang="en-US"> Monthly average volume </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ConsolidatedOilAndGasProductionAbstract" xlink:label="srt_ConsolidatedOilAndGasProductionAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidatedOilAndGasProductionAbstract" xlink:to="srt_ConsolidatedOilAndGasProductionAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidatedOilAndGasProductionAbstract_lbl" xml:lang="en-US"> Average Sales Price And Production Costs Per Unit Of Production [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ConsolidatedOilAndGasProductionAbstract_lbl" xml:lang="en-US"> Average Sales Price and Production Costs Per Unit of Production </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xlink:label="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xlink:to="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward_lbl" xml:lang="en-US"> Increase Decrease In Partners Capital [Roll Forward] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward_lbl" xml:lang="en-US"> Per Share Operating Performance: </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_TotalIncomeLossPerUnit" xlink:label="uso_TotalIncomeLossPerUnit"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_TotalIncomeLossPerUnit" xlink:to="uso_TotalIncomeLossPerUnit_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_TotalIncomeLossPerUnit_lbl" xml:lang="en-US"> Per share or per unit of total income (loss). </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_TotalIncomeLossPerUnit_lbl" xml:lang="en-US"> Total Income Loss Per Unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_TotalIncomeLossPerUnit_lbl" xml:lang="en-US"> Total income (loss) </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_TotalExpensesPerUnit" xlink:label="uso_TotalExpensesPerUnit"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_TotalExpensesPerUnit" xlink:to="uso_TotalExpensesPerUnit_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_TotalExpensesPerUnit_lbl" xml:lang="en-US"> Per share or per unit of total expenses. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_TotalExpensesPerUnit_lbl" xml:lang="en-US"> Total Expenses Per Unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_TotalExpensesPerUnit_lbl" xml:lang="en-US"> Total expenses </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_IncreaseDecreaseInNetAssetValuePerUnit" xlink:label="uso_IncreaseDecreaseInNetAssetValuePerUnit"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_IncreaseDecreaseInNetAssetValuePerUnit" xlink:to="uso_IncreaseDecreaseInNetAssetValuePerUnit_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_IncreaseDecreaseInNetAssetValuePerUnit_lbl" xml:lang="en-US"> Increase (Decrease) In Net Asset Value Per Unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_IncreaseDecreaseInNetAssetValuePerUnit_lbl" xml:lang="en-US"> Increase Decrease In Net Asset Value Per Unit </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_IncreaseDecreaseInNetAssetValuePerUnit_lbl" xml:lang="en-US"> Net increase (decrease) in net asset value </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_RateOfReturnOnAverageAsset" xlink:label="uso_RateOfReturnOnAverageAsset"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_RateOfReturnOnAverageAsset" xlink:to="uso_RateOfReturnOnAverageAsset_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_RateOfReturnOnAverageAsset_lbl" xml:lang="en-US"> Percentage of rate of return on average asset. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_RateOfReturnOnAverageAsset_lbl" xml:lang="en-US"> Rate Of Return On Average Asset </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_RateOfReturnOnAverageAsset_lbl" xml:lang="en-US"> Total Return </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_AverageNetAssetsAbstract" xlink:label="uso_AverageNetAssetsAbstract"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_AverageNetAssetsAbstract" xlink:to="uso_AverageNetAssetsAbstract_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_AverageNetAssetsAbstract_lbl" xml:lang="en-US"> Average Net Assets [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_AverageNetAssetsAbstract_lbl" xml:lang="en-US"> Average Net Assets [Abstract] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_AverageNetAssetsAbstract_lbl" xml:lang="en-US"> Ratios to Average Net Assets </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfTotalRevenue" xlink:label="uso_PercentageOfTotalRevenue"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfTotalRevenue" xlink:to="uso_PercentageOfTotalRevenue_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfTotalRevenue_lbl" xml:lang="en-US"> Percentage of total revenue. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfTotalRevenue_lbl" xml:lang="en-US"> Percentage Of Total Revenue </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_PercentageOfTotalRevenue_lbl" xml:lang="en-US"> Total income (loss) </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_ManagementIncentiveFeePercentage" xlink:label="uso_ManagementIncentiveFeePercentage"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_ManagementIncentiveFeePercentage" xlink:to="uso_ManagementIncentiveFeePercentage_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_ManagementIncentiveFeePercentage_lbl" xml:lang="en-US"> Percentage of management incentive fee. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_ManagementIncentiveFeePercentage_lbl" xml:lang="en-US"> Management Incentive Fee Percentage </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_ManagementIncentiveFeePercentage_lbl" xml:lang="en-US"> Management fees </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_ExpensesExcludingManagementFeePercentage" xlink:label="uso_ExpensesExcludingManagementFeePercentage"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_ExpensesExcludingManagementFeePercentage" xlink:to="uso_ExpensesExcludingManagementFeePercentage_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_ExpensesExcludingManagementFeePercentage_lbl" xml:lang="en-US"> Percentage of expenses, excluding management fee. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_ExpensesExcludingManagementFeePercentage_lbl" xml:lang="en-US"> Expenses Excluding Management Fee Percentage </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_ExpensesExcludingManagementFeePercentage_lbl" xml:lang="en-US"> Total expenses excluding management fees </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_PercentageOfConsolidatedNetIncomeLoss" xlink:label="uso_PercentageOfConsolidatedNetIncomeLoss"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_PercentageOfConsolidatedNetIncomeLoss" xlink:to="uso_PercentageOfConsolidatedNetIncomeLoss_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_PercentageOfConsolidatedNetIncomeLoss_lbl" xml:lang="en-US"> Percentage of consolidated net income (loss). </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_PercentageOfConsolidatedNetIncomeLoss_lbl" xml:lang="en-US"> Percentage Of Consolidated Net Income Loss </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="uso_PercentageOfConsolidatedNetIncomeLoss_lbl" xml:lang="en-US"> Net income (loss) </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:label="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:to="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable_lbl" xml:lang="en-US"> Schedule Of Trading Securities And Other Trading Assets [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable_lbl" xml:lang="en-US"> Schedule of Trading Securities and Other Trading Assets [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US"> Fair Value By Fair Value Hierarchy Level [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US"> Fair Value, Measurements, Fair Value Hierarchy [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="us-gaap_FairValueInputsLevel1Member"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US"> Fair Value, Inputs, Level 1 [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US"> Level 1 </link:label>

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<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US"> Fair Value, Inputs, Level 2 [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US"> Level 2 </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShortTermInvestmentsMember" xlink:label="us-gaap_ShortTermInvestmentsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermInvestmentsMember" xlink:to="us-gaap_ShortTermInvestmentsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermInvestmentsMember_lbl" xml:lang="en-US"> Short-Term Investments [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShortTermInvestmentsMember_lbl" xml:lang="en-US"> Short-Term Investments </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ForeignExchangeFutureMember" xlink:label="us-gaap_ForeignExchangeFutureMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignExchangeFutureMember" xlink:to="us-gaap_ForeignExchangeFutureMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignExchangeFutureMember_lbl" xml:lang="en-US"> Foreign Exchange Future [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignExchangeFutureMember_lbl" xml:lang="en-US"> Exchange-Traded Futures Contracts </link:label>

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<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OverTheCounterMember" xlink:to="us-gaap_OverTheCounterMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OverTheCounterMember_lbl" xml:lang="en-US"> Over-the-Counter [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OverTheCounterMember_lbl" xml:lang="en-US"> OTC </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:label="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems_lbl" xml:lang="en-US"> Schedule Of Trading Securities And Other Trading Assets </link:label>

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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:label="us-gaap_InvestmentsFairValueDisclosure"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="us-gaap_InvestmentsFairValueDisclosure_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US"> Investments Fair Value Disclosure </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US"> Securities fair value </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_lbl" xml:lang="en-US"> Fair Values Derivatives Balance Sheet Location By Derivative Contract Type By Hedging Designation [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable_lbl" xml:lang="en-US"> Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommodityContractMember" xlink:label="us-gaap_CommodityContractMember"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommodityContractMember_lbl" xml:lang="en-US"> Commodity Contract [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommodityContractMember_lbl" xml:lang="en-US"> Commodity Contracts </link:label>

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<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMember" xlink:to="us-gaap_FutureMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMember_lbl" xml:lang="en-US"> Future [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMember_lbl" xml:lang="en-US"> Futures </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativesFairValueLineItems" xlink:label="us-gaap_DerivativesFairValueLineItems"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativesFairValueLineItems" xlink:to="us-gaap_DerivativesFairValueLineItems_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativesFairValueLineItems_lbl" xml:lang="en-US"> Derivatives Fair Value </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DerivativesFairValueLineItems_lbl" xml:lang="en-US"> FAIR VALUE OF FINANCIAL INSTRUMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue" xlink:label="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue" xlink:to="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_lbl" xml:lang="en-US"> Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_lbl" xml:lang="en-US"> Derivatives not accounted for as hedging instruments assets </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue" xlink:label="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue" xlink:to="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue_lbl" xml:lang="en-US"> Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value </link:label>

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<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xml:lang="en-US"> Derivative Instruments Gain Loss By Hedging Relationship By Income Statement Location By Derivative Instrument Risk [Table] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xml:lang="en-US"> Derivative Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location, by Derivative Instrument Risk [Table] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_DerivativeByNatureOfPositionAxis" xlink:label="uso_DerivativeByNatureOfPositionAxis"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_DerivativeByNatureOfPositionAxis" xlink:to="uso_DerivativeByNatureOfPositionAxis_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_DerivativeByNatureOfPositionAxis_lbl" xml:lang="en-US"> Information by derivatives by nature of position. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_DerivativeByNatureOfPositionAxis_lbl" xml:lang="en-US"> Derivative by Nature of Position [Axis] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_DerivativeByNatureOfPositionDomain" xlink:label="uso_DerivativeByNatureOfPositionDomain"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_DerivativeByNatureOfPositionDomain" xlink:to="uso_DerivativeByNatureOfPositionDomain_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_DerivativeByNatureOfPositionDomain_lbl" xml:lang="en-US"> Information by derivatives by nature of position. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_DerivativeByNatureOfPositionDomain_lbl" xml:lang="en-US"> Derivative by Nature of Position [Domain] </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_ClosedContractsMember" xlink:label="uso_ClosedContractsMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_ClosedContractsMember" xlink:to="uso_ClosedContractsMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_ClosedContractsMember_lbl" xml:lang="en-US"> Represents information pertaining closed contract. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_ClosedContractsMember_lbl" xml:lang="en-US"> Closed Contracts [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_ClosedContractsMember_lbl" xml:lang="en-US"> Realized gain (loss) on closed </link:label>

<link:loc xlink:type="locator" xlink:href="uso-20231231.xsd#uso_OpenPositionMember" xlink:label="uso_OpenPositionMember"/>

<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_OpenPositionMember" xlink:to="uso_OpenPositionMember_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_OpenPositionMember_lbl" xml:lang="en-US"> Represents information pertaining open position. </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_OpenPositionMember_lbl" xml:lang="en-US"> Open Position [Member] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="uso_OpenPositionMember_lbl" xml:lang="en-US"> Change in unrealized gain (loss) on open </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xml:lang="en-US"> Derivative Instruments Gain Loss [Line Items] </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xml:lang="en-US"> FAIR VALUE OF FINANCIAL INSTRUMENTS </link:label>

<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GainLossOnSaleOfDerivatives" xlink:label="us-gaap_GainLossOnSaleOfDerivatives"/>

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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfDerivatives_lbl" xml:lang="en-US"> Gain (Loss) on Sale of Derivatives </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainLossOnSaleOfDerivatives_lbl" xml:lang="en-US"> Realized Gain (Loss) on Derivatives Recognized in Income </link:label>

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<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="uso_NonRule10b51ArrModifiedFlag" xlink:to="uso_NonRule10b51ArrModifiedFlag_lbl"/>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="uso_NonRule10b51ArrModifiedFlag_lbl" xml:lang="en-US"> NA </link:label>

<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="uso_NonRule10b51ArrModifiedFlag_lbl" xml:lang="en-US"> Non Rule 10b51 Arr Modified [Flag] </link:label>

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1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/26/24  United States Oil Fund, LP        424B3                  1:963K                                   Olmedo Francis A/FA

20 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/23  United States Oil Fund, LP        10-K       12/31/22   51:6.4M                                   Toppan Merrill/FA2
10/03/22  United States Oil Fund, LP        8-K:1,9    10/03/22   11:244K                                   Olmedo Francis A/FA
 6/15/22  United States Oil Fund, LP        8-K:1,9     6/15/22   11:845K                                   Olmedo Francis A/FA
12/01/21  United States Oil Fund, LP        8-K:1,9    11/30/21   11:861K                                   Olmedo Francis A/FA
12/07/20  United States Oil Fund, LP        8-K:1,8,9  12/03/20   11:257K                                   Olmedo Francis A/FA
 6/09/20  United States Oil Fund, LP        8-K:1,9     6/09/20   11:290K                                   Olmedo Francis A/FA
 5/29/20  United States Oil Fund, LP        8-K:1,9     5/28/20   11:289K                                   Olmedo Francis A/FA
 3/30/20  United States Oil Fund, LP        8-K:1,9     3/30/20   13:726K                                   Olmedo Francis A/FA
 2/21/20  United States Oil Fund, LP        10-K       12/31/19   53:6.3M                                   Toppan Merrill/FA
12/15/17  United States Oil Fund, LP        8-K:5,9    12/15/17    2:313K                                   Olmedo Francis A/FA
 2/26/16  United States Oil Fund, LP        10-K       12/31/15   51:4.4M                                   Toppan Merrill/FA
 2/03/16  United States Oil Fund, LP        S-3                    6:1.3M                                   Olmedo Francis A/FA
10/10/13  United States Oil Fund, LP        8-K:1,9    10/10/13    2:305K                                   Toppan Merrill/FA
 2/27/13  United States Oil Fund, LP        10-K       12/31/12   50:4.6M                                   Donnelley … Solutions/FA
 8/09/12  United States Oil Fund, LP        10-Q        6/30/12   47:3.2M                                   Donnelley … Solutions/FA
10/24/11  United States Oil Fund, LP        8-K:1,9    10/20/11    2:32K                                    Donnelley … Solutions/FA
11/09/09  United States Oil Fund, LP        10-Q        9/30/09   13:2.1M                                   Toppan Merrill/FA
 6/01/07  US Natural Gas Fund, LP           10-Q        3/31/07    6:362K                                   Brown Brothers Ha… Co/MA
 5/15/07  United States Oil Fund, LP        10-Q        3/31/07    5:495K                                   Brown Brothers Ha… Co/MA
 5/16/05  United States Oil Fund, LP        S-1         5/13/05    3:649K                                   Bowne - DC/FA

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Filing Submission 0001410578-24-000108 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)