US Jet Fuel Demand, Stocks Slip, Production Rises: EIA
U.S. jet fuel demand and stockpiles fell during the week ending Oct. 2, according to Wednesday’s Energy Information Administration data release, while production warmed up slightly.
Demand for jet fuel in the United States was down by 113,000 b/d to 1.696 million b/d, leaving rates just 2,000 b/d short of their year-ago position.
National jet fuel production rates increased by 11,000 b/d to 1.863 million b/d, but overall output remains among the lowest recorded weekly rates since the first week of March.
By region, the U.S. Gulf Coast (PADD 3) saw the greatest increase in jet fuel output, rising by 61,000 b/d to 1.046 million b/d — a return to the above 1 million b/d rate after a brief dip during the prior week. The East Coast (PADD 1) was also up, increasing 19,000 b/d to 67,000 b/d, notching the highest output rate in 10 weeks.
The rest of the nation saw production decreases. The West Coast (PADD 5) saw production slide by 45,000 b/d to 425,000 b/d, the lowest since the week ending April 24. The U.S. Midwest (PADD 2) posted declines of 20,000 b/d to 299,000 b/d, its lowest in two weeks. Meanwhile, the Rocky Mountains (PADD 4) saw output slide 4,000 b/d to 26,000 b/d.
National stockpiles of jet fuel were down by 1.107 million bbl to 42.504 million bbl, logging the lowest inventory since the week ending March 6.
Regionally, PADD 3 led the drop, lowering by 1.36 million bbl to 13.407 million bbl — the thinnest stock level since the first week of March. PADD 2 saw the next-greatest decrease, falling 287,000 bbl to 7.448 million bbl, the thinnest inventory for the region since the week ending July 10.
The rest of the nation saw stockpiles build. PADD 1 posted the greatest uptick, rising 466,000 bbl to 10.151 million bbl, its deepest stock since the week ending Sept. 11. PADD 5 stocks rose by 58,000 bbl to 10.772 million bbl, and PADD 4 inventories rose by 16,000 bbl to 726,000 bbl.
Data from the Transportation Security Administration showed that passenger volumes lowered slightly from last week, dipping by just over 190,000 airline passengers week to week to just under 16.8 million people who passed through TSA checkpoints.