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OIL PRODUCTS: Asia’s Gasoline Cracks Set for Support in March: Kpler

OIL PRODUCTS
SingaporeAPACChinaCommoditiesEnergy BulletsBulletIndonesia

The Singapore gasoline crack is likely to remain constructive through March, Kpler forecasts.

  • China-Singapore arbitrage incentives have seen a swift deterioration and Chinese gasoline exports are now sitting at a five-month low, Kpler added. This is tapering light distillates inventories in the wider APAC region.
  • There is set to be a noticeable increase in planned refinery maintenance from March onwards, reaching its zenith in May. This will add further bullish notes from the supply side
  • Regarding demand, stockpiling ahead of Eid should keep demand elevated, although Kpler continues to forecast flat imports into Indonesia,
  • Kpler added that an outage at Kuwait’s Mina Al-Ahmadi that drove prompt buying in H2 Jan. has been fixed. 
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The Singapore gasoline crack is likely to remain constructive through March, Kpler forecasts.

  • China-Singapore arbitrage incentives have seen a swift deterioration and Chinese gasoline exports are now sitting at a five-month low, Kpler added. This is tapering light distillates inventories in the wider APAC region.
  • There is set to be a noticeable increase in planned refinery maintenance from March onwards, reaching its zenith in May. This will add further bullish notes from the supply side
  • Regarding demand, stockpiling ahead of Eid should keep demand elevated, although Kpler continues to forecast flat imports into Indonesia,
  • Kpler added that an outage at Kuwait’s Mina Al-Ahmadi that drove prompt buying in H2 Jan. has been fixed.