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Stock Movements

80

OPEC Monthly Oil Market Report – November 2017

Singapore and Amsterdam-Rotterdam-Antwerp (ARA)

Singapore

At the end of September,

product stocks

in Singapore fell by 6.6 mb to stand at 44.9 mb, which was

3.8 mb, or 7.7%, below the same period a year ago. All products witnessed stock draws.

Light distillate and Middle distillate stocks

fell in September by 1.0 mb and 2.3 mb, to stand at 11.3 mb

and 10.6 mb, respectively. The stocks draw in both products was driven by higher domestic in the region.

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

Residual fuel oil stocks

also dropped by 3.4 mb in September reversing the build of the last three

consecutive months. At 23.0 mb, fuel oil stocks stood at 1.0 mb, or 4.2%, below the same period a year ago.

Amsterdam-Rotterdam-Antwerp (ARA)

Product stocks

in ARA fell by 1.2 mb in September to end the month at 42.8 mb, almost in line with the

same time a year ago. Within products, with the exception of gasoil, all other products dropped.

Gasoline and fuel oil stocks fell by

0.2 mb and 1.1 mb in September to stand at 2.4 mb and 19.3 mb,

respectively. Fuel oil stocks remained 14 mb above the same time a year ago, while gasoil stood at 3.9 mb

below last year at the same time.

In contrast,

gas oil stocks

rose by 1.0 mb in September to stand at 5.5 mb

.

At this level, they were 18 mb

below last year at the same month.