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Fujairah Oil Stocks Reverse Three Week Decline

OIL

Oil product stockpiles at the Port of Fujairah in the UAE climbed by 1.4% in the week to Oct. 30, reversing three straight weeks of declines, according to Platts citing data from the Fujairah Oil Industry Zone.

  • Total oil inventories were 17m bbl Oct 30, up 0.2m bbl on the week. This is 5m bbl below the same week in 2022.
  • Middle Distillate stocks were down 16.3% on the week to 1.8m bbl, and down 0.9m bbl on the year.
  • Light distillates were down 27.3% on the week to 4.2m bbl.
  • Oil product exports averaged 635.6k b/d over the seven days to Oct. 29, compared to 285.7k b/d the previous week, according to S&P Global Commodity Insights’ data. Fuel oil comprised 265k b/d of the total exports.

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