Commodities
US Fuel Oil Production Down 2% in September Amid Rise in Imports
The US fuel oil production declined by 2% in September compared to August, according to data released by the Energy Information Administration. The average daily production of residual fuel oil was 338,000 barrels per day in September, a decrease of 6,000 barrels from August.
Imports of residual fuel oil increased by 36,000 barrels per day to 162,000 barrels per day during the same period. This surge in imports contributed to an overall increase in supply, which rose by 20,000 barrels per day to 297,000 barrels per day.
Total US fuel oil stocks rose by 553,000 barrels to 22.53 million barrels in September.