US fuel production rose in August

The US produced 13% more fuel oil per day on average in August compared to July, according to the Energy Information Administration (EIA).

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

• Production up 39,000 b/d to 343,000 b/d
• Supply down 36,000 b/d to 277,000 b/d
• Imports down 29,000 b/d to 127,000 b/d

Volumes of fuel oil supplied out of US storage tanks decreased in August. 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 313,000 b/d in July, to 277,000 b/d in August, the EIA reports.

US refineries have produced 39,000 b/d more fuel oil in August, while imports decreased by 29,000 b/d.

Total US fuel oil stocks increased by 601,000 bbls on the month, to 21.98 million bbls.

By Gautamee Hazarika

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