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Singapore and ARA Stock Movements - August 2016

Source: OPEC 8/18/2016, Location: Asia

At the end of June, product stocks in Singapore fell by 7.5 mb, reversing the build of the previous month to stand at 50.3 mb. At this level, they were 2.9 mb, or 6.1%, above the same period a year ago. All products experienced drops.

Residual fuel oil stocks fell by 5.5 mb, reversing the build of the last two months and ending the month of June at 25.6 mb. At this level, they were 0.3 mb, or 1.0%, less than at the same time a year ago. The drop in fuel oil stocks did not lead to any supply constraints in the trading hub, as there is plenty of shipping and industrial fuel stored offshore in tankers. Light distillate stocks fell by 1.7 mb, ending the month of June at 13.2 mb, which was 1.0 mb, or 8.4%, above the same time a year ago. Middle distillate stocks also fell by 0.3 mb to end June at 11.6 mb, which was 1.6 mb, or 16.1%, above the previous year at the same time.

Product stocks in Amsterdam-Rotterdam-Antwerp (ARA) fell slightly by 0.2 mb to end June at 47.2 mb; this is 2.1 mb, or 4.6%, higher than the same time a year ago. Within products the picture was mixed. Fuel oil, gasoil and jet oil saw draws, while gasoline showed a stock build.

Gasoil fell by 1.0 mb in June for the third consecutive month to stand at 23.1 mb, which is 0.8 mb, or 3.4%, below the previous year at the same time. A decline in middle distillate stocks could be attributed to higher domestic demand in the European region. Fuel oil stocks also fell by 0.5 mb in June to stand at 7.1 mb, which was 0.8 mb, or 11.7%, higher than a year ago. This fall was driven by higher exports, mainly to Asia region. In contrast, gasoline rose by 1.8 mb, ending June at 10.4 mb, which was 2.9 mb, or around 39% above the same month the previous year.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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