Fujairah’s fuel oil stocks increased by 57% in November

Fujairah’s residual fuel oil inventories averaged 57% higher in November than in October, according to the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from October to November:

• Heavy distillate and residual stocks up 4.08 million bbls to 11.23 million bbls
• Middle distillate stocks up 118,000 bbls to 3.20 million bbls

Fujairah’s heavy distillate and residual fuel oil stocks climbed above 11 million bbls in November, reaching their highest level since April.

Fuel oil imports rose to around 381,000 b/d, up from 339,000 b/d in October, based on cargo tracker Vortexa data. Exports also jumped, increasing by 57,000 b/d to 259,000 b/d in November.

In November, Fujairah sourced most of its fuel oil imports from Iran (32%), followed by Malaysia (22%) and Iraq (12%). On the export side, the largest volumes went to Singapore (45%), with Malaysia (14%) and Ghana (9%) also taking notable shares.

Middle distillate inventories at the port rose as well, averaging 4% above October levels.

Most suppliers continue to recommend lead times of 5–7 days for all grades in Fujairah.

By Tuhin Roy

Please get in touch with comments or additional info to news@engine.online