US fuel oil production and supply rise in September
The US has produced 7% more fuel oil per day on average in September compared to August, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from August to September (thus far):
- Production up 23,000 b/d to 366,000 b/d
- Supply up 76,000 b/d to 353,000 b/d
- Imports up 43,000 b/d to 169,000 b/d
Volumes of fuel oil supplied out of US storage tanks have increased in September 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 increased from 277,000 b/d in August to 353,000 b/d this month so far, the EIA reports.
US refineries have produced 23,000 b/d more fuel oil in September so far, while imports have increased by 43,000 b/d.
Total US fuel oil stocks have increased by 69,000 bbls on the month to 22.05 million bbls.
By Gautamee Hazarika
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