US fuel production increase in March

The US produced 7% more fuel oil per day on average in March compared to February, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from February to March:

• Production up 19,000 b/d to 310,000 b/d
• Supply down 10,000 b/d to 297,000 b/d
• Imports down 41,000 b/d to 107,000 b/d

Volumes of fuel oil supplied out of US storage tanks has increased in March 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 307,000 b/d in February to 297,000 b/d this month so far, the EIA reports.

US refineries have produced 19,000 b/d more fuel oil in March, while imports have decreased by 41,000 b/d.

Total US fuel oil stocks have increased by 1.27 million bbls on the month to 24.84 million bbls.

By Gautamee Hazarika

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