US fuel production rises in June
The US has produced 4% more fuel oil per day on average in June thus far compared to May, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from May to June (so far):
- Production up 12,000 b/d to 293,000 b/d
- Supply up 87,000 b/d to 370,000 b/d
- Imports up 38,000 b/d to 150,000 b/d
Volumes of fuel oil supplied out of US storage tanks has increased in June 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 283,000 b/d in May to 370,000 b/d this month so far, the EIA reports.
US refineries have produced 12,000 b/d more fuel oil in May, while imports have increased by 38,000 b/d.
Total US fuel oil stocks have increased by 207 bbls on the month to 22.76 million bbls.
By Gautamee Hazarika
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