US fuel oil production and supply decreases in July

The US has produced 3% less fuel oil per day on average in July than in June, according to the Energy Information Administration (EIA).

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

• Production down 9,000 b/d to 294,000 b/d
• Supply down 47,000 b/d to 306,000 b/d
• Imports up 60,000 b/d to 172,000 b/d

Volumes of fuel oil supplied out of US storage tanks has decreased in July 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 353,000 b/d in June to 306,000 b/d this month so far, the EIA reports.

US refineries have produced 9,000 b/d less fuel oil in July, while imports have increased by 60,000 b/d.

Total US fuel oil stocks have decreased by 463,000 bbls on the month to 21.27 million bbls.

By Gautamee Hazarika

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