US fuel oil output dips in October
The US produced 8% less fuel oil per day on average in October compared to September, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from September to October:
- Production down 25,000 b/d to 291,000 b/d
- Supply down 64,000 b/d to 225,000 b/d
- Imports down 36,000 b/d to 108,000 b/d
Volumes of fuel oil supplied out of US storage tanks has decreased in October so far. The fuel oil goes to outlets like bunker fuel blenders and bulk terminals, refinery coking units for upgrades to higher-value products, or to power generation.
Supply, which can also imply demand, has decreased from 289,000 b/d in September to 225,000 b/d this month so far, the EIA reports.
US refineries have produced 25,000 b/d less fuel oil in October so far, while imports have decreased by 36,000 b/d.
Total US fuel oil stocks have increased 644,000 bbls on the month to 21.58 million bbls.
By Gautamee Hazarika
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