The ARA’s independently held fuel oil stocks have gone up by 4% so far this month compared to November, according to Insights Global data.

Changes in monthly average ARA stocks from November to December (so far): 

• Fuel oil stocks up 300,000 bbls to 8.21 million bbls
• Gasoil stocks down 700,000 bbls to 16.08 million bbls

The region has imported 160,000 b/d of fuel oil so far this month, significantly down from 301,000 b/d imported in November, according to data from cargo tracker Vortexa. The ARA has imported low-sulphur fuel oil (LSFO) and HSFO in a 55/45 ratio so far this month, compared to a 51/49 ratio in November.

The UK (22% of the total) has been the region’s biggest fuel oil import source in December so far, followed by Poland (17%), Denmark (15%), Germany (14%) and France (11%).

The ARA hub has exported 394,000 b/d of fuel oil so far this month, a significant rise from 217,000 b/d of fuel oil exported in November. Fuel oil cargoes have mostly departed for Brazil (23%), Guyana (13%), Singapore (11%) and Panama (9%).

The ARA hub’s independent gasoil inventories - which include diesel and heating oil - have declined by 4% so far this month. The region has imported 253,000 b/d of gasoil and diesel so far this month, down from 359,000 b/d imported in November, according to Vortexa data.

The US (30%) has become the region's top import source of gasoil and diesel oil so far this month. Cargoes have also arrived from India (22%), Qatar (12%), the UK (6%), Norway and Türkiye (5% each).

By Shilpa Sharma

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