US fuel supply climbs in June
The US has supplied 32% more fuel oil per day on average in June so 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 35,000 b/d to 316,000 b/d
- Supply up 90,000 b/d to 373,000 b/d
- Imports down 9,000 b/d to 103,000 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 373,000 b/d this month so far, the EIA reports.
US refineries have produced 35,000 b/d more fuel oil in June, while imports have decreased by 9,000 b/d.
Total US fuel oil stocks have decreased by 435,000 bbls on the month to 22.12 million bbls.
By Gautamee Hazarika
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