US fuel oil production, imports and supply all decline in October
The US has produced 12% less fuel oil per day on average in October than in September, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from September to October:
- Production down 37,000 b/d to 279,000 b/d
- Supply down 114,000 b/d to 175,000 b/d
- Imports down 54,000 b/d to 90,000 b/d
Volumes of fuel oil supplied out of US storage tanks have decreased in so far October. The fuel oil goes to outlets like bunker fuel blenders, bulk terminals or power generation, and to refinery coking units for upgrades to higher-value products.
Supply, which can also imply demand, has decreased from 289,000 b/d in September to 175,000 b/d this month so far, the EIA reports.
US refineries have produced 37,000 b/d less fuel oil in October, while imports have decreased by 54,000 b/d.
Total US fuel oil stocks have increased by 570,000 bbls on the month to 21.51 million bbls.
By Gautamee Hazarika
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