US Jet Fuel Demand Inches Higher as Production, Stocks Slide: EIA
Demand for jet fuel in the U.S. saw a very small increase for the week ending Sept. 11, according to Energy Information Administration data released Wednesday morning, while both production and stockpiles slipped.
Domestic jet fuel demand rose 15,000 b/d to 1.8 million b/d. That is the highest demand figure since the week ending Aug. 7 and well above last year’s 1.623 million b/d figure for early September.
While demand rose, production of jet fuel tapered off a little. Nationally, the U.S. saw jet fuel output drop 146,000 b/d to 1.876 million bbl — that marked the first drop below the 2-million-b/d figure seen since early April and now stands as the lowest point since early March. Still, current production figures are on par with last year’s early September level of 1.897 million b/d.
Regionally, Gulf Coast (PADD 3) jet fuel production figures saw the biggest fall, easing 83,000 b/d to 1.016 million b/d — the lowest level since early March. Midwest (PADD 2) jet fuel production was off 47,000 b/d to 316,000 b/d, which doesn’t include the the sidelining of the ExxonMobil Joliet, Ill., plant from this past Sunday. West Coast (PADD 5) jet fuel production also slipped, albeit by a meager 10,000 b/d to 473,000 b/d. East Coast jet fuel output was unchanged at 57,000 b/d.
With slightly higher demand and less production, U.S. jet fuel stockpiles slumped. Total inventory levels were down 695,000 b/d to 45.338 million bbl; that’s the lowest inventory since early August, but it’s still about 1.5 million bbl ahead of the year-ago inventory of 43.9 million bbl.
The biggest drop in the U.S. was in PADD 3, where inventories saw a 1.521 million bbl drop to 14.065 million bbl — the lowest since early April.
The rest of the nation did see stocks rise, but they couldn’t outpace the big draw from PADD 3. PADD 1 stockpiles shot up 488,000 bbl to 11.184 million bbl, with PADD 2 jet fuel inventories up 274,000 b/d to 8.036 million bbl. PADD 5 again was mostly stable, with jet fuel stockpiles slipping just 96,000 bbl to 11.283 million bbl.
National exports of jet fuel saw a very small 2,000 b/d increase to 445 million b/d, the highest export figure since the end of July.