Fujairah’s fuel oil inventories surge 51% in November
Fujairah’s residual fuel oil inventories have averaged 51% higher so far in November than across October, as per the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.
Changes in monthly average Fujairah stocks from October to November (so far):
- Heavy distillate and residual stocks up 3.66 million bbls to 10.81 million bbls
- Middle distillate stocks up 114,000 bbls to 3.20 million bbls
Fujairah’s heavy distillate and residual fuel oil stocks have risen above 10 million bbls, marking the highest monthly average since April.
The port has imported 428,000 b/d of fuel oil so far in November, a steep jump from October’s 339,000 b/d, according to cargo tracker Vortexa. This month’s imports have mainly come from Iran (34%), Malaysia (22%) and Iraq (11%).
Fuel oil exports from Fujairah have also increased, up by 24,000 b/d to 226,000 b/d, with most shipments headed to Malaysia (34%), Singapore (14%) and Brazil (12%).
The port’s middle distillate inventories have moved higher as well, averaging 4% above last month.
Prompt bunker supply in Fujairah remains tight across all grades. Suppliers are still advising lead times of 5–7 days.
By Tuhin Roy
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