US fuel production increases in February

The US produced 3% more fuel oil per day on average in February compared to January, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from January to February:

• Production up 8,000 b/d to 291,000 b/d
• Supply down 20,000 b/d to 307,000 b/d
• Imports up 19,000 b/d to 148,000 b/d

Volumes of fuel oil supplied out of US storage tanks decreased in February. 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 327,000 b/d in January to 307,000 b/d in February, the EIA reports.

US refineries have produced 8,000 b/d more fuel oil in February, while imports have increased by 19,000 b/d.

Total US fuel oil stocks have decreased by 235,000 bbls on the month to 23.57 million bbls.

By Gautamee Hazarika

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