US fuel oil supply falls in July

US fuel oil supply has average 23% lower so far in July than across June, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from June to July (thus far):

• Production down 18,000 b/d to 285,000 b/d
• Supply down 80,000 b/d to 273,000 b/d
• Imports up 55,000 b/d to 166,000 b/d

Volumes of fuel oil supplied out of US storage tanks has 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, has decreased from 353,000 b/d in June, to 273,000 b/d in July thus far, the EIA reports.

US refineries have produced 18,000 b/d less fuel oil in July so far, while imports have risen to 166,000 b/d.

Total US fuel oil stocks have decreased by 983,000 bbls on the month to 20.75 million bbls.

By Samantha Shaji

Please get in touch with comments or additional info to news@engine.online