Singapore fuel oil stocks fall 6% in October despite higher net imports

Residual fuel oil stocks in Singapore averaged 6% lower in October than in September, data from Enterprise Singapore shows.

Changes in monthly average Singapore stocks from September to October: • Residual fuel oil stocks down 1.19 million bbls to 18.56 million bbls • Middle distillate stocks up 670,000 bbls to 9.14 million bbls Singapore’s fuel oil stocks fell below 19 million bbls in October, despite a 16% increase in net fuel oil imports. Both imports and exports rose in October, with imports increasing by 765,000 bbls and exports by 250,000 bbls.

The UAE (16%) was the largest source of Singapore’s fuel oil imports in October, followed by Brazil (13%) and Russia (11%), according to cargo tracker Vortexa.

On the export side, China (37%) received the largest share of Singapore’s fuel oil cargoes, followed by Malaysia (26%) and Bangladesh (10%).

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