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Stock Movements

OPEC Monthly Oil Market Report – August 2017

81

Table 9 - 5: China’s commercial oil stocks, mb

Singapore and Amsterdam-Rotterdam-Antwerp (ARA)

Singapore

At the end of June,

product stocks

in Singapore fell by 0.8 mb to stand at 43.4 mb, which is 6.9 mb, or

13.8%, below the same period a year ago. Within products, light distillates and middle distillates witnessed

stock draws, while fuel oil saw builds.

Middle distillate and light distillate stocks

fell in June by 3.3 mb and 0.8 mb to stand at 11.1 mb and

10.0 mb, respectively. The stocks draw in both products was driven by lower demand in the region.

Both product stocks remained below the same time one year ago.

In contrast,

residual fuel oil stocks

rose by 3.2 mb in June reversing the stock draw of last three months.

At 22.2 mb, fuel oil stocks stood at 3.4 mb, or 13.1%, lower than the same period a year ago.

Amsterdam-Rotterdam-Antwerp (ARA)

Product stocks

in ARA rose by 1.0 mb in June to end the month at 43.9 mb, which is 3.3 mb, or 6.9%,

higher than at the same time a year ago. Within products, the picture was mixt, gasoil, fuel oil and naphtha

stocks went up, while gasoline and jet oil inventories went up.

Fuel oil and gasoil stocks

rose by 1.6 mb and 1.1 mb in June to stand at 6.4 and 21.9 mb, respectively.

Fuel oil stocks remained 0.7 mb, or 10%, below the same time a year ago, while gasoil stood at 1.2 mb, or

5.0%, above last year at the same time.

Gasoline and jet oil inventories

fell by 0.8 mb and 0.9 mb to stand at 7.4 mb and 5.1 mb respectively.

Gasoline stocks stood at 3.0 mb, or 29%, below the same time a year ago, while jet oil stocks remained at

0.1 mb or 0.8% higher than the same time a year ago.

Change

Apr 17

May 17

Jun 17

Jun 17/May 17

Jun 16

Crude oil

221.3

222.3

231.7

9.4

232.4

Gasoline

71.0

71.3

69.7

-1.7

70.1

Diesel

70.3

64.2

66.4

2.2

71.1

Jet/Kerosene

19.2

18.7

18.6

-0.2

19.9

Total products

160.6

154.2

154.6

0.3

161.1

Total

381.9

376.6

386.3

9.7

393.5

Sources: China Oil and Gas Petrochemicals and OPEC Secretariat.