OPEC Monthly Oil Market Report – September 2017
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)
At the end of July,
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.
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.
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.
Jul 17/Jun 17
Sources: China Oil and Gas Petrochemicals and OPEC Secretariat.