US fuel production inches up in July

The US has produced 2% more fuel oil per day on average in July thus far compared to June, according to the Energy Information Administration (EIA).

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

• Production up 6,000 b/d to 309,000 b/d
• Supply down 38,000 b/d to 315,000 b/d
• Imports up 59,000 b/d to 171,000 b/d

Volumes of fuel oil supplied out of US storage tanks have decreased in July 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 353,000 b/d in June to 315,000 b/d this month so far, the EIA reports.

US refineries have produced 6,000 b/d more fuel oil in July, while imports have also increased by 59,000 b/d.

Total US fuel oil stocks have decreased by 360,000 bbls on the month to 21.38 million bbls.

By Gautamee Hazarika

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