News 1 days ago
ARA fuel oil stocks fall 7% amid higher exports
Cyprus
India
Kuwait
Lithuania
Mauritania
Oman
Poland
Qatar
Russia
Saudi Arabia
Singapore
Sweden
Turkey
U.K.
U.S.A.
Virgin Is. (U.S.A.)
Amsterdam
Antwerp
Rotterdam
HSFO
LSMGO
VLSFO
The ARA’s independently held fuel oil stocks have decreased by 7% so far this month compared to January, according to Insights Global data.
Changes in monthly average ARA stocks from January to February (so far):
- Fuel oil stocks down 610,000 bbls to 8.47 million bbls
- Gasoil stocks up 590,000 bbls to 19.23 million bbls
The region has imported 257,000 b/d of fuel oil so far this month, a slight dip from 298,000 b/d imported in January, according to data from cargo tracker Vortexa.
Saudi Arabia (25% of the total) has emerged as the region’s biggest fuel oil import source, followed by the UK (18%), Sweden (15%), Poland (14%) and Lithuania (8%).
The ARA hub has exported 265,000 b/d of fuel oil, a significant rise from 168,000 b/d of fuel oil exported in January. Fuel oil cargoes have mostly departed for the US (22%), Singapore (14%), Russia (10%), the US Virgin Islands (7%), and Cyprus and Mauritania (5% each).
The ARA hub’s independent gasoil inventories - which include diesel and heating oil – have averaged 3% higher so far this month. At 19.23 million barrels, the region’s gasoil stocks are at their highest since February 2021. The region has imported 309,000 b/d of gasoil and diesel, registering a steep increase from 194,000 b/d b/d imported in January, according to Vortexa data.
Kuwait (37%) has become the region's top import source for gasoil and diesel oil. Cargoes have also arrived from India (20%), the US (13%), Qatar (10%), Turkey (5%) and Oman (4%).
By Manjula Nair
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