US fuel supply sees uptick in May

The US has supplied 15% more fuel oil per day on average in May compared to April, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from April to May (thus far):

• Production down 13,000 b/d to 290,000 b/d
• Supply up 49,000 b/d to 368,000 b/d
• Imports down 48,000 b/d to 121,000 b/d

Volumes of fuel oil supplied out of US storage tanks has increased in May 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 increased from 319,000 b/d in April to 368,000 b/d this month so far, the EIA reports.

US refineries have produced 13,000 b/d less fuel oil in May so far, while imports have decreased by 48,000 b/d.

Total US fuel oil stocks have decreased by 1.64 million bbls on the month to 22.8 million bbls.

By Gautamee Hazarika

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