US fuel supply rises in October
The US supplied 8% more fuel oil per day on average in October compared to September, according to the Energy Information Administration (EIA).
Changes in monthly US residual fuel oil from September to October:
- Production up 5,000 b/d to 351,000 b/d
- Supply up 24,000 b/d to 315,000 b/d
- Imports up 42,000 b/d to 192,000 b/d
- Exports up 15,000 b/d to 199,000 b/d
Volumes of fuel oil supplied out of US storage tanks increased in October. 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.
Ships account for around 84% of US residual fuel oil supply, according to EIA estimates.
Supply, which can also imply demand, increased from 291,000 b/d in September to 315,000 b/d in October, the EIA reports.
US refineries produced 5,000 b/d more fuel oil in October than across September, while imports also increased by 42,000 b/d.
US fuel oil exports increased by 15,000 b/d to 199,000 b/d in October, while distillate exports, which include gasoil, decreased by 72,000 b/d to 1.44 million b/d, the EIA reported.
Total US fuel oil stocks increased by 867,000 bbls on the month, averaging 23.92 million bbls in October.
Production and imports brought in 543,000 b/d of fuel oil in October, while supply and exports took out 514,000 b/d, adding about 29,000 b/d to stocks.
By Gautamee Hazarika
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