US fuel production and supply see uptick in June

The US produced 10% more fuel oil per day on average in June so far than in May, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from May to June (so far):

• Production up 28,000 b/d to 309,000 b/d
• Supply up 67,000 b/d to 350,000 b/d
• Imports up 1,000 b/d to 113,000 b/d

Volumes of fuel oil supplied out of US storage tanks has increased in June 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 283,000 b/d in May, to 350,000 b/d this month so far, the EIA reports.

US refineries have produced 28,000 b/d more fuel oil in June, while imports have increased by 1,000 b/d.

Total US fuel oil stocks have decreased by 33,000 bbls on the month to 22.53 million bbls.

By Gautamee Hazarika

Please get in touch with comments or additional info to news@engine.online