Product supplied recorded an increase during the week

Product supplied indicates the consumption of petroleum products. It measures the disappearance of petroleum products from its primary sources—for example, refineries, natural gas processing plants, blending plants, pipelines, and bulk terminals. Finished motor gasoline, kerosene-type jet fuel, distillate fuel oil, residual fuel oil, propane or propylene, and other oils are included in the calculation of total product supplied.

For the week ending November 21, total product supplied was 20.5 million barrels per day (or bpd)—compared to 20.1 million bpd in the third week of October. All of the components—kerosene-type jet fuel, residual fuel oil, and other product supplied oils—recorded an increase.

Over the last four weeks, an average of 19.9 million bpd of product oil were supplied. This was a decrease from 20.1 million bpd during the same period last year.

With product supplied recording yearly growth, crude tanker companies—like Frontline Ltd. (FRO), Teekay Tankers Ltd. (TNK), Nordic American Tanker Ltd. (NAT), Tsakos Energy Navigation Ltd. (TNP), and the Guggenheim Shipping ETF (SEA)—will likely have positive results.