The ARA’s independently held fuel oil stocks averaged 5% lower in September than across August, according to Insights Global data. 

Changes in monthly average ARA stocks from August to September: 

• Fuel oil stocks down 430,000 bbls to 8.18 million bbls
• Gasoil stocks up 2 million bbls to 18.66 million bbls

The region imported 229,000 b/d of fuel oil in September, a moderate increase from 223,000 b/d imported in August, according to data from cargo tracker Vortexa. The ARA imported low-sulphur fuel oil (LSFO) and HSFO in a 51/49 ratio in September, almost similar to August when the ratio was also tilted towards LSFO at 53/47.

The US emerged as the region’s biggest fuel oil import source in September, accounting for 15% of the total imports. The UK came second, accounting for 14% of the ARA’s total imports, followed by the Bahamas (11%), Poland, Brazil and Germany (9%). 

The ARA hub exported 250,000 b/d of fuel oil in September, registering a sharp rise from 143,000 b/d of fuel oil exported in August. Fuel oil cargoes mostly departed for Spain (38%), Singapore (15%) and South Africa (12%). Other export destinations included Cyprus (6%), Guyana and the UK (4% each).

The ARA hub’s independent gasoil inventories — which include diesel and heating oil — increased by 12% in September. The region imported 291,000 b/d of gasoil in September, down from 355,000 b/d of gasoil imported in August, according to Vortexa data.

Saudi Arabia became the region's top import source of gasoil and diesel in September, accounting for 17% of the total imports. Cargoes also arrived from the US (16%), Oman (12%), Qatar (9%) and Turkey (7%).

By Manjula Nair

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