US Fuel Oil Output Plunges 2% in September Amid Supply Drop

US fuel oil production and supply have taken a hit in September, according to data from the Energy Information Administration. The EIA reported that average daily fuel oil output fell by 2% this month compared to August, slipping to 336,000 barrels per day.

This decline was accompanied by a drop in supply, which decreased by 14,000 barrels per day to 263,000 barrels per day. Meanwhile, imports increased by 5,000 barrels per day to 131,000 barrels per day.

The data suggests that demand may be easing, as volumes drawn from US storage tanks have decreased this month.