US fuel production rises in October so far

The US has produced 3% more fuel oil per day on average in October thus far compared to September, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from September to October (so far):

• Production up 10,000 b/d to 357,000 b/d
• Supply down 46,000 b/d to 245,000 b/d
• Imports up 66,000 b/d to 216,000 b/d

Volumes of fuel oil supplied out of US storage tanks have decreased in October 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 291,000 b/d in September to 245,000 b/d this month so far, the EIA reports.

US refineries have produced 10,000 b/d more fuel oil in October so far, while imports have also increased by 66,000 b/d.

Total US fuel oil stocks have increased by 968,000 bbls on the month, averaging 24.02 million bbls in October so far.

By Gautamee Hazarika

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