US fuel production drops in April
The US has produced 7% less fuel oil per day on average in April compared to March, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from March to April:
- Production down 20,000 b/d to 284,000 b/d
- Supply down 171,000 b/d to 127,000 b/d
- Imports down 15,000 b/d to 112,000 b/d
Volumes of fuel oil supplied out of US storage tanks has decreased in April 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 298,000 b/d in March to 127,000 b/d this month so far, the EIA reports.
US refineries have produced 20,000 b/d less fuel oil in April, while imports have decreased by 15,000 b/d.
Total US fuel oil stocks have increased by 142,000 bbls on the month to 24.88 million bbls.
By Gautamee Hazarika
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