April 30, 2020 / 3:36 PM / 25 days ago

German refiners raise March heating oil output 30% y/y at jet's expense

LONDON, April 30 (Reuters) - German oil refineries scaled back jet fuel output by around 26% last month compared with the year before, while raising heating oil production by over 30%, the country’s Mineral Oil Association (MWV) said on Thursday.

Overall, German refinery oil product output in March was only 2.2% lower than the same time last year, MWV, which represents the country’s 15 refineries, said.

Diesel and gasoline output fell by 7.1% and 4.5% respectively.

The association did not provide the output figures.

Refineries adapted their production based on demand, in order to safeguard industry jobs and deliver to consumers, managing director Christian Kuechen was quoted as saying.

Heating oil prices have fallen to around 40 euros ($44) per 100 litres from 70 euros at the beginning of the year, MWV said.

This drove up demand for stockpiling the product in oil tanks at private homes.

The country’s sales of the light heating oil last calendar year totalled 15.1 million tonnes, up 14% year-on-year.

Jet fuel sale s were unchanged, amounting to 10.2 million tonnes, trade statistics office Bafa data showed.

$1 = 0.9141 euros Reporting by Vera Eckert in Frankfurt; writing by Ahmad Ghaddar; editing by Mark Potter

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