US fuel supply declines in July

The US supplied 11% less fuel oil per day on average in July compared to June, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from June to July:

• Production up 1,000 b/d to 304,000 b/d
• Supply down 39,000 b/d to 313,000 b/d
• Imports up 43,000 b/d to 155,000 b/d

Volumes of fuel oil supplied out of US storage tanks decreased in July. 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, decreased from 353,000 b/d in June to 313,000 b/d in July, the EIA reports.

US refineries produced 1,000 b/d more fuel oil in July, while imports jumped by 43,000 b/d.

Total US fuel oil stocks decreased by 360,000 bbls on the month to 21.38 million bbls.

By Gautamee Hazarika

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