Americas News
US Residual Fuel Oil Demand Collapsed in March
Friday April 21, 2023
Residual fuel oil consumption in the US posted sharp declines both on a monthly and yearly basis in March.
The US saw a total of 200,000 b/d of residual fuel oil deliveries in March, according to the latest monthly statistical report from the American Petroleum Institute. The total was down by 46.7% from February's level, and by 57.8% from March 2022.
The figure includes both marine fuel and fuel oil used in power generation, heating and industry.
"The year-on-year decrease was consistent with reports on a slow-down in US freight movement," the API said.
The organisation also noted a 7.7% yearly decline in distillate deliveries to the lowest level for March since 2013.
