US fuel production and supply rise in August

The US has produced 8% more fuel oil per day on average in August thus far compared to July, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from July to August (thus far):

• Production up 24,000 b/d to 328,000 b/d
• Supply up 27,000 b/d to 340,000 b/d
• Imports down 28,000 b/d to 128,000 b/d

Volumes of fuel oil supplied out of US storage tanks has increased in August 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 313,000 b/d in July to 340,000 b/d this month so far, the EIA reports.

US refineries have produced 24,000 b/d more fuel oil in August so far, while imports have decreased by 28,000 b/d.

Total US fuel oil stocks have increased by 343,000 bbls on the month to 21.72 million bbls.

By Gautamee Hazarika

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