US fuel oil production gains in November
US fuel oil production has averaged 4% higher so far this month than across October, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from October to November:
- Production up 11,000 b/d to 295,000 b/d
- Supply down 53,000 b/d to 180,000 b/d
- Imports up 2,000 b/d to 128,000 b/d
Volumes of fuel oil supplied out of US storage tanks has decreased in November 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 an average of 233,000 b/d in October to 180,000 b/d so far this month, the EIA reports.
US refineries have produced 11,000 b/d more fuel oil in November so far, and imports have increased by 2,000 b/d.
Total US fuel oil stocks have increased by 1.6 million bbls on the month to 23.3 million bbls.
By Aparupa Mazumder
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