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Stock Movements

OPEC Monthly Oil Market Report – October 2017

83

Singapore and Amsterdam-Rotterdam-Antwerp (ARA)

Singapore

At the end of August,

product stocks

in Singapore rose by 1.6 mb to stand at 51.5 mb, which is 3.2 mb, or

6.7%, above the same period a year ago. Within products, fuel oil went up, while light and middle distillates

witnessed stock draws.

Middle and light distillate stocks

fell in August by 0.3 mb and 0.9 mb to stand at 12.9 mb and 12.3 mb,

respectively. The stock draws in both products were driven by higher exports from the region. Both product

stocks remained below the same time one year ago.

In contrast,

residual fuel oil stocks

rose by 2.9 mb in August for the third consecutive month. At 26.4 mb,

fuel oil stocks stood at 5.8 mb, or 28.4%, higher than the same period a year ago.

Amsterdam-Rotterdam-Antwerp (ARA)

Product stocks

in ARA rose by 2.3 mb in August to end the month at 44.0 mb, which is almost in line with

the same time a year ago. All product categories saw increases, with the exception of fuel oil.

Gasoline and jet fuel oil stocks

rose by 0.5 mb and 2.0 mb in August to stand at 2.6 mb and 8.9 mb,

respectively. Fuel oil stocks remained 1.5 mb, or 28%, above the same time a year ago, while gasoil stood at

2.9 mb, or 27%, below last year at the same time.

In contrast,

fuel oil stocks

fell by 0.2 mb in August to stand at 20.4 mb, which is 20 mb above last year

during the same month.