US fuel production increases in March

The US produced 6% more fuel oil per day on average in March compared to February, according to data from the Energy Information Administration (EIA).

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

• Production up 18,000 b/d to 309,000 b/d
• Supply up 22,000 b/d to 329,000 b/d
• Imports down 18,000 b/d to 130,000 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 increased from 307,000 b/d in February to 329,000 b/d this month so far, the EIA reports.

US refineries have produced 18,000 b/d more fuel oil in March, while imports have decreased by 18,000 b/d.

Total US fuel oil stocks have increased by 1.05 million bbls on the month to 24.62 million bbls.

By Gautamee Hazarika

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