US fuel supply climbs in October so far

The US has supplied 5% more fuel oil per day on average in October so far compared to across September, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from September to October (so far):

• Production up 1,000 b/d to 347,000 b/d
• Supply up 16,000 b/d to 307,000 b/d
• Imports up 53,000 b/d to 203,000 b/d

Volumes of fuel oil supplied out of US storage tanks have increased in October thus 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 increased from 291,000 b/d in September to 307,000 b/d this month so far, the EIA reports.

US refineries have produced 1,000 b/d more fuel oil in October so far, while imports have increased by 53,000 b/d.

Total US fuel oil stocks have increased by 871,000 bbls on the month, averaging 23.93 million bbls in October so far.

By Gautamee Hazarika

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