US fuel production on rise in February

The US produced 5% more fuel oil per day on average in February compared to January, according to the Energy Information Administration (EIA).

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

• Production up 14,000 b/d to 297,000 b/d
• Supply up 78,000 b/d to 405,000 b/d
• Imports up 29,000 b/d to 158,000 b/d

Volumes of fuel oil supplied out of US storage tanks have increased in February 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 327,000 b/d in January to 405,000 b/d this month so far, the EIA reports.

US refineries have produced 14,000 b/d more fuel oil in February, while imports have increased by 29,000 b/d.

Total US fuel oil stocks have decreased by 619,000 bbls on the month to 23.19 million bbls.

By Gautamee Hazarika

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