US fuel production climbs in May

The US has produced 3% more fuel oil per day on average in May thus far compared to April, according to the Energy Information Administration (EIA).

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

• Production up 8,000 b/d to 311,000 b/d
• Supply down 126,000 b/d to 193,000 b/d
• Imports down 80,000 b/d to 89,000 b/d

Volumes of fuel oil supplied out of US storage tanks has decreased in May 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 319,000 b/d in April to 193,000 b/d this month so far, the EIA reports.

US refineries have produced 8,000 b/d more fuel oil in May so far, while imports have decreased by 80,000 b/d.

Total US fuel oil stocks have decreased by 271,000 bbls on the month to 24.25 million bbls.

By Gautamee Hazarika

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