EMEA News
Fujairah: Stocks of Oil Products Rise
Wednesday March 22, 2023
Oil product inventories at Fujairah in the United Arab Emirates climbed for the first time in a month with gains registered across all product categories, according to SP Global citing Fujairah Oil Industry Zone data published March 22.
Stocks of heavy distillates used as fuel oil for ships and power generation jumped 12% to 11.407 million barrels as of March 20, the report said.
Middle distillates inventories, which include products such as diesel and jet fuel, were up by 3.7% to 2.614 million barrels.
Fujairah is a top three bunkering destination with an annual sales volume of bunker fuel or around 8 million metric tonnes (roughly 56m barrels).
