MOMR September 2017
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Stock Movements

OPEC Monthly Oil Market Report – September 2017

87

In contrast,

kerosene

stocks

rose in July by 0.9 mb to stand at 19.5 mb, which is 0.3 mb lower than the

same time last year.

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

Singapore and Amsterdam-Rotterdam-Antwerp (ARA)

Singapore

At the end of July,

product stocks

in Singapore rose by 6.4 mb to stand at 49.9 mb, which is 5.3 mb, or

9.5%, below the same period a year ago. Within products, all products witnessed stock builds.

Middle distillate and light distillate stocks

rose in July by 2.7 mb and 2.2 mb to stand at 13.2 mb and

13.2 mb, respectively. The stocks build in both products was driven by higher imports to the region.

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

R

esidual fuel oil stocks

rose by 1.5 mb in July for the second consecutive month. At 23.5 mb, fuel oil

stocks stood at 3.1 mb, or 11.8%, lower than the same period a year ago.

Amsterdam-Rotterdam-Antwerp (ARA)

Product stocks

in ARA fell by 2.4 mb in July to end the month at 41.7 mb, which is 5.7 mb, or 12.1%, lower

than at the same time a year ago. Within products, the picture was mixed, gasoline and fuel oil stocks went

up, while gasoil and jet oil inventories saw a drop.

Gasoline and fuel oil

rose by 0.3 mb and 0.4 mb in July to stand at 7.6 mb and 6.9 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.

Gasoil and jet oil inventories

fell by 1.1 mb and 0.6 mb in July to stand at 20.6 mb and 4.5 mb,

respectively. Gasoil stocks stood at 3.4 mb, or 14%, below the same time a year ago, while jet oil stocks

remained at 0.7 mb or 14% less than the same time a year ago.

Change

May 17

Jun 17

Jul 17

Jul 17/Jun 17

Jul 16

Crude oil

222.3

231.7

233.8

2.1

219.1

Gasoline

71.3

69.7

64.8

-4.9

68.6

Diesel

64.2

66.4

62.5

-3.9

73.6

Jet/Kerosene

18.7

18.6

19.5

0.9

19.8

Total products

154.2

154.6

146.7

-7.8

161.9

Total

376.6

386.3

380.6

-5.7

381.1

Sources: China Oil and Gas Petrochemicals and OPEC Secretariat.