Oil Product Stocks Fall After Middle Distillates Plunge 33%

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  • Oil product stocks fall after middle distillates plunge 33%
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  • light distillates stock little changed over the past year

Oil product stockpiles at the Port of Fujairah on the UAE’s east coast dropped for the first time in three weeks led by a 33% decline in middle distillates following a pickup in gasoil shipments says an article on SP Global.

Total inventory

The total inventory was 15.684 million barrels as of Oct. 11, down 6.2% from a week earlier and close to the record low of 14.998 million barrels set Sept. 20, according to Fujairah Oil Industry Zone data provided exclusively to S&P Global Platts on Oct. 13.

A drop in 13%

Middle distillates such as gasoil, jet fuel, and diesel plunged 33% to 2.588 million barrels, the lowest since April 2020, while heavy distillates used for power generation and marine bunkers dropped 13% to 7.083 million barrels, a two-week low.

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Source: SP Global

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