US fuel production rises in February

The US produced 19% 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 54,000 b/d to 337,000 b/d
• Supply up 84,000 b/d to 411,000 b/d
• Imports down 45,000 b/d to 84,000 b/d

Volumes of fuel oil supplied out of US storage tanks has increased in February. 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 411,000 b/d in February, the EIA reports.

US refineries have produced 54,000 b/d more fuel oil in February, while imports have decreased by 45,000 b/d.

Total US fuel oil stocks have decreased by 431,000 bbls on the month to 23.37 million bbls.

By Gautamee Hazarika

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