Australia’s diesel imports jump in October

Oil

Australia’s diesel imports increased by 62K b/d m-o-m and 133K b/d y-o-y to 492K b/d in October, rising to the highest level on SSY records dating back to 2009 after falling to a four-month low in September, according to data from the Australian Petroleum Statistics. Shipments of gasoline also built by 47K b/d m-o-m to 133K b/d, whereas imports of jet fuel fell by 14K b/d m-o-m to a seven-month low of 30K b/d. Total oil product demand rose by 38K b/d m-o-m to a four-month high of 911K b/d, supported by gasoline consumption which increased by 25K b/d m-o-m to 250K b/d. Diesel demand also built by 19K b/d m-o-m to 549K b/d, rising for the fourth consecutive month.

Crude oil imports rose by 47K b/d m-o-m to 245K b/d, the highest level since June, whereas exports declined by 30K b/d m-o-m to a three-month low of 302K b/d.