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Fujairah Oil Product Stocks Slip to 2-Month Low

OIL PRODUCTS

Oil stocks in Fujairah have dropped to a two-month low – prompted by drops in light and middle distillates according to Fujairah Oil Industry Zone Data.

  • Total oil product inventories fell 3.6% w/w to 19.541mn bbls in the week ended May 13 – the lowest since March 11.
  • Middle distillate stocks dipped 1.1% to 3.204mn bbls - a seven-week low.
  • Light distillate stocks retreated 15% to 6.374mn bbls - the lowest since Feb. 19.
  • Heavy distillates climbed 4.8% to 9.963mn bbls - a three-week high.
  • Refined product exports from Fujairah declined from the week prior, though the four-week moving average remains above 5mn b/d for a second consecutive week, according to Kpler.
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